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pls provide step how to solve Hurko, LLC sold a parcel of land located in southern California which it elected the installment method of reporting.

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pls provide step how to solve

Hurko, LLC sold a parcel of land located in southern California which it elected the installment method of reporting. Hurko, LLC purchased the land several years ago for $425,000 and subsequently made several non-depreciable land improvements (i.e. remediation costs) to it costing an additional $125,000. The fair market value of comparable parcels of land in the area was $875,000; however the sales contract price agreed to was $850, 000. What is the gross profit percentage Hurko, LLC should use in determining the amount of recognized gain?? 35.29%. 37.14%. 38.24%. 48.57%. 50.00%

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