On April 1, 2019, Fastener Corporation, a calendar year, cash method C-Corporation, sold land that it used for 4 years in its business operations. Under the terms of the installment agreement, Fastener Corporation received $100,000 in 2019 (exclusive of interest, which can be ignored for purposes of this question), and will receive $200,000 in 2020, and $300,000 in 2021. Fastener Corporation purchased the land on February 1, 2004 for $400,000. What is the amount and character of gain, if any, that Fastener Corporation must recognize in 2019, 2020, and 2021? Please show your work and explain your calculations.