In 2020, Gabby sold a business building for $900,000. Under the terms of the contract, Gabby will receive $300,000 in 2020, $ 300,000 in 2021, and $ 300,000 in 2022. Gabby purchased this equipment 2 years ago for $870,000 and had claimed depreciation up to the date of sale totaling $21,000. Absent any elections, how much total income will Gabby recognize for tax purposes in 2020? $37.000 $21.000 $31.000 $11.000 $17000