Jennifer (a cash basis, calendar year taxpayer) made an installment sale of some specialized, custom made printing equipment. Jennifer originally purchased the printing equipment system on 2 January 2011 for a total cost of $950,000. Jennifer correctly claimed allowable depreciation of $628, 377 from inception through 1 July 2015; this includes $3 9, 275 of depreciation expense for 2015. Jennifer originally took out a $775,000 mortgage when she purchased the printing equipment, and this mortgage had been paid down to $650,000 as of the date of the 1 July 2015 sale. The following escrow statement summarizes the 1 July 2015 sale: Jennifer wants to report the lowest amount of income legally possible. How much and what type of income and/or expense must Jennifer report in 2015 from this transaction? On 1 July 2016. Jennifer received a $325.000 payment for the $75,000 of interest and $250,000 of principal which were due on that date. How much and what type of income and or expense must Jennifer report in 2016 from this $325,000 collection? On 2 January' 2017. Jennifer sold the rights to receive the remaining installment payment and received a total payment of $505.000 on the sale. The S505.000 included payment for $25,000 of accrued interest and S480,000 of principal paid for the rights to collect the remaining $500,000 of principal owed on the installment note. The sale was made to an unrelated party. How much and what type of income and/or expense must Jennifer report in 2017 from this transaction