Gold Corporation sold its 40% of the Ruby Corporation common stock. Gold received $10 million in the year of the sale and a note for $15 million payable in three years with interest at the Federal rate. Golds basis in the stock was $5 million. Assume that Gold will report the gain by the installment method where the method is permitted.

a.	The installment method is never permitted on the sale of stock.
	b.	If Ruby stock is traded on an established securities market, Gold must recognize a $20 million gain in the year of sale.
	c.	If the Ruby Corporation stock is not traded on a national exchange, Gold must recognize a $20 million gain.
	d.	All of these are true.
	e.	None of these is true.