Abby sold investment land for $200,000 in June. Her basis in the land was $75,000. The purchaser paid Abby $40,000 cash and gave her his 5-year, interest-bearing note for the $160,000 remaining contract price. In December, Abby received a $20,000 principal payment on the note. Abby's recognized gain this year is: Multiple Choice $125,000 $22.500 $60,000 $37.500 Ox sold an asset with a $78,300 adjusted tax basis for $100,000. The purchaser paid $30,000 in cash and assumed OX's $70.000 mortgage on the asset. Compute Ox's net cash flow from the sale assuming a 21% tax rate. Multiple Choice $25,443 $17,143 C $23.700 K None of these choices are correct