In December 2018, Carl Corporation sold land it held as an investment. The corporation received $50,000 in 2018 and a note payable (with adequate interest) for $150,000 to be paid in 2020. Carl Corporation's cost of the land was $80,000. The corporation has a $90,000 net capital loss carryover that will expire in 2018.

Complete the statement below as to whether Carl Corporation should report the sale in 2018 or use the installment method to report the income as payments are received.

Carl Corporation should (elect to forgo the use of/ use) the installment method since the gain of $ __________ (can/ can not) be used to offset the net capital loss carryover.