7. Morgan sold a business asset with a $78,300 adjusted tax basis for $100,000. The purchaser paid $30,000 in cash and gave Morgan will not receive a payment on the note until next year. Compute Morgan's gain recognized in the year of the sale under the installment sale method. a note for the $70,000 balance of the price. Morgan A) $7,690 B) $6,510 C) $4,920 D) None of the above