QUESTION 26 Which of the following may qualify as an installment sale? a. Sale of inventory at a gain b. Sale of asset used in a business at a gain c. Sale of securities at a loss d. Sale of land used in a business at a loss QUESTION 27 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? a $10,000, $40,000 b. SO, 550,000 c. $25,000, $25,000 d. $50,000, so