Ellyn, Inc sold a business asset with a tax basis of $ 60,000 for $100,000 on January, 2019. The purchaser paid $40,000 in cash and issued Ellyn, Inc a note for $60,000. On July 1,2019 the purchaser paid $20,000 of the note off.No other payments were made on the note during 2019. Ellyn, Inc used the installment method to report its 2019 taxable gain. What gain does Ellyn, Inc reconize in 2019? Multiple Choice o $40,000