Jasmine owned rental real estate that she sold to her tenant in an installment sale. Jasmine acquired the property in 2009 for $1,880,000; took $658,000 of depreciation on it; and sold it for $1,034,000, receiving $103,400 immediately and the balance (plus interest at a market rate) in equal payments of $93,060 for 10 years. a. What is the nature of the recognized gain or loss from this transaction? The nature of this transaction results in a 1231 loss of $ X. Jasmine will not use the installment method for this transaction, because it is only used to postpone realized gains b. Assuming that the interest rate on the installment contract is 5%, what is the present value of the installment payments? The conversion factor for the present value of an ordinary annuity at 5% for 10 periods is 7.7217. Round your answer to two decimal places. Foodbook x