On June 11, two years ago, Gia sold land with a cost of $15,000 for $45,000. Gia collected $20,000 initially and is scheduled to receive $5,000 each year for five years starting last year plus an acceptable rate of interest. This year, Gia decided to sell one installment note to a bank that agreed to pay $4,100. As a result of the sale of the note, Gia must report?

a. -0-

b. $1,667 gain

c. $2,433 gain

d. ($900) loss