QUESTION 14 Koch Realty has owned a vacant land with a FMV of $775,000 and an adjusted basis of $400,000 for more than a year. After a lengthy negotiation Koch sells the land for $800,000. Koch agrees to accept $50,000 at the time of the closing and $250,000 on the anniversary of the closing for the next 3 years. What is Koch's realized (accounting concept) gain on sale