In $2023,$ Skylar sold equipment for $$25,000$ cash and a $$250,000$ note due in two years. Skylar's cost of the property was $$200,000,$ and he had deducted depreciation of $$120,000.$ 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?

$$195,000=(25,000+250,000)-$

$(200,000-120000)$

b$.$ In the year of sale, how much $1245$ gain does Skylar recognize? $

How much gain can be deferred under the installment sale method? $