Manuel acquired raw land as an investment in 2010. The land cost was $55,000. In 2020, the land is sold for a total sales price of $110,000, consisting of a down payment of $10,000 the year of the sale and four annual payments of $25,000 in each of the next four years. Assume that Manuel uses the installment method to recognize the gain. How much gain should he recognize in 2020?

Select one:

a. Some other amount

b. $55,000

c. $5,833

d. $5,000

e. $10,000