BE18-22 (Interest Revenue from Installment Sale) Becker Corporation sells farm machinery on the install- ment plan. On July 1, 2014, Becker entered into an installment-sales contract with Valente Inc. for an 8-year period. Equal annual payments under the installment sale are $100,000 and are due on July 1. The first pay- ment was made on July 1, 2014, Additional information: 1. The amount that would be realized on an outright sale of similar farm machinery is $586,842. 2. The cost of the farm machinery sold to Valente Inc is $425,000 3. The finance charges relating to the installment period are based on a stated interest rate of 10%, which is appropriate 4. Circumstances are such that the collection of the installments due under the contract is reasonably assured Instructions What income or loss before income taxes should Becker record for the year ended December 31, 2014, as a result of the transaction above? (AICPA adapted)