ooceer Brenda sold investment land for $200,000 in June. Her basis in the land was $75,000. The purchaser paid Brenda $40,000 cash and gave her his 5-year, interest-bearing note for the $160,000 remaining contract price. In December Brenda received a $20,000 principle payment on the note. Brenda's recognized gain this year is: 00:47:38 Multiple Choice $22,500 $37,500 $125,000 $60,000