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Jasmine sold land for $250,000 in 2018. The land had a basis of $118,000 and she incurred selling expenses of $10,000. Jasmine received $50,000 down

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Jasmine sold land for $250,000 in 2018. The land had a basis of $118,000 and she incurred selling expenses of $10,000. Jasmine received $50,000 down in 2018 and will receive five additional annual payments of $40,000 each. How much income will Jasmine recognize in 2019 when she receives the first additional payment of $40,000

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