Content AreaBrianna acquired raw land as an investment 16 years ago. The land cost $60,000. In the current year, 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 Brianna elects to recognize the entire gain in the year of sale, what is her recognized gain in the current year? a. $60,000 b. $110,000 c. $100,000 d. $50,000