ABC Corp. sold a piece of real estate on January 2, 2009 for $5,000,000. It had purchased the property in 2002 for $4,500,000, allocated $450,000 to land and $4,050,000 to the building. At the time of the sale, the tax basis in the land $450,000 and building was $3,350,000. The terms of the sale were as follows: Downpayment (paid Jan 2, 2009) Note Receivable Interest rate Length of mortgage December 1, 2009 payment December 1, 2010 payment $ 250.000 $4,750,000 5% 10 years $ 475,000 principal, plus $237,500 interest $ 475,000 principal, plus $237,500 interest The sale has been consummated, the seller's receivable is not subject to future subordination, and the seller has no continuing involvement with the property. Determine taxable income from the sale in 2009 and 2010