On December 15, 2018, Rigsby Sales Co. sold a tract of land that cost $3,400,000 for $5,000,00o. Rigsby appropriately uses the installment sales method of accounting for this transaction. Terms called for a down payment of $480,000 with the balance in two equal annual installments payable on December 15, 2019, and December 15, 2020. Ignore interest charges. Rigsby has a December 31 year-end. In 2019, Rigsby would recognize realized gross profit of: In 2019, Rigsby would recognize realized gross profit of: Multiple Choice $773,200. $ 0 $723,200. $623.200