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Pedro sells investment land on September 1, 2020. Information pertaining to the sale follows: Adjusted basis $ 29,000 Selling price 104,400 Selling expenses 1,400 Down

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Pedro sells investment land on September 1, 2020. Information pertaining to the sale follows: Adjusted basis $ 29,000 Selling price 104,400 Selling expenses 1,400 Down payment 12,000 Four installment payments 17,400 Mortgage assumed by the buyer 22,800 Required: Each installment payment is due on September of 2021, 2022, 2023, and 2024 (gnore Interest). Determine the tax consequences in 2020 2021 2022 2023, and 2024. (Do not round intermediate calculations. Round your final answers to nearest whole dollar value.) Gain Recognized Year 2020 2021 2022 2023 2024 Total $ 0

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