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Pierre sold a parcel of land for $50,000. He received $10,000 this year and signs a contract to receive four additional payments of $10,000 each

Pierre sold a parcel of land for $50,000. He received $10,000 this year and signs a contract to receive four additional payments of $10,000 each plus interest. If Pierre had a basis in the land of $10,000 and incurred $2,500 in selling expenses, what is his gross profit percentage

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