Andrs acquired raw land as an investment in 2006. The land cost $60,000. In 2020, the land is sold for a total sales price of $120,000, consisting of $10,000 cash and the buyer's note for $110,000. If Andrs elects to recognize the entire gain in the year of sale, what is his recognized gain in 2020?

Select one:

a. $100,000

b. Some other amount

c. $110,000

d. $60,000

e. $50,000