Conroy Corporation agrees to sell some of its excess machinery for $190,000 consisting of a $70,000 down payment in year of sale and additional payments of $60,000 in each of the next two years, plus interest. Conroy purchased this machinery several years ago for $156,000 and had claimed accumulated depreciation of $47,000. How much income should Conroy Corporation recognize in each year assuming that it uses the installment method? How does your answer change if Conroy elects out of the installment method for this sale?