ABC Inc, sold a parcel of land valued at $300,000. Its basis in the lad was $270,000. For the land, ABC received $200,000 in cash in the current year and a note providing ABC with $100,000 in the subsequent year. Wha tis ABC's recognized gain in the current (year 1) and subsequent yr (year 2) I Year 1 $0, Year 2 .. $30,000 Year 1 $10,000, year 2: $20,000 Year 1: $15,000, year 2: $15,000 Year 1: $20,000, Year 2: $10,000 Year 1:$30,000, Year 2: $0