In 2021 you received an offer you couldn't refuse on a piece of equipment. The buyer will pay The equipment originally cost $780,000 Class 8 has a beginning UCC Balance of $2,500,000 (there were other assets in Class 8 ). The buyer will pay $850,000 as a down payment in 2021 and finance the balance with a promissory note. This note will be repaid in installments of $125,000 each year starting in 2022 until fully repaid. This note is non-interest bearing. The taxpayer wishes to minimize and defer his taxes as much as legally possible. The buyer paid the note in full per the agreed upon payment schedule