Hurko, LP sold a business asset with a $474,000 adjusted book and tax basis for $775,000. The purchaser paid $100,000 in cash and gave Hurko a note for the $675,000 balance of the price. Hurko will not receive a payment on the note until next year. Assuming that Hurko uses the installment sale method, compute Hurko's book and tax gain recognized in the year of sale. Book gain $301,000; tax gain $100,000. Book and tax gain $38, 839. Book gain $301,000; tax gain $38, 839. Book and tax gain $310,000. Book gain and tax gain $100,000