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Question 23 0.2 pts On Dec. 31, 2020, Mary sold a piece of investm 20, Mary sold a piece of investment land for $1M (basis
Question 23 0.2 pts On Dec. 31, 2020, Mary sold a piece of investm 20, Mary sold a piece of investment land for $1M (basis = $100,000). Mary UD 100,000 cash on Dec. 31, 2020 and a $900,000 note. The note calls for three armuar installment payments of 300K beginning in 2021 and provides for annual interest payments (at market rate, beginning in 2021). Mary will use the installment sale method to report her taxable gain. How much of the $100,000 cash payment will Mary include in gross income in 2020? 0.25 pts Question 24
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