Peroni Corporation sold a parcel of land valued at $300,000. Its basis in the land was $250,000. For the land, Peroni received $150,000 in cash in the current year and a note providing Peroni with $150,000 in the subsequent year. What is Peroni's recognized gain in the current and subsequent year, respectively? Group of answer choices

$0, $50,000

$10,000, $40,000

$25,000, $25,000

$50,000, $0

None of the choices are correct.