Exercise 18-31 (Algorithmic) (LO. 4) In 2022, Skylar sold equipment for $140,600 cash and a $1,406,000 note due in two years. Skylar's cost of the property was $1,124,800, and he had deducted depreciation of $674,880. If required, round any division to two decimal places and your final answers to the nearest dollar. a. Under the installment sales method, what is Skylar's total realized gain? b. In the year of sale, how much 1245 gain does Skylar recognize? How much gain can be deferred under the installment sale method?