Question 4 of 15 Betsy sold and she purchased three months earlier for use in her business. Her cost and adjusted basis in the land is 580,000. She incurred $5,000 in expenses related to the sale. The buyer paid $80,000 cash and assumed Betsy's $25,000 mortgage on the property. What is the amount of Betsy's gain, and where on Form 4797 will she report the sale? $25,000; Part I $25,000: Part 1 $20,000, Part 1 $20,000, Part 1 Mark for follow up Question 5 of 15. Which of the following taxpayers may report the sale of their property as an installment salo? Andrew. He sold a backhoe to Patrick for $6,000. Patrick made two payments, one payment of $1,500 on February 3 and one payment of $4,500 on December 15 of the tax year. Andrew paid $5,000 for the backhoe when it was new, it had fully depreciated before he sold it. Grayson. She sold her entire inventory, valued at $10,000, to Marion for $15,000 Marion intends to pay her $6,750 per year for the next three years Jacob. He sold a plot of land for $44,000. He purchased the land for $29.500 and paid $15,000 to improve it. His buyer intends to pay for the land over five years. Rose. She sold a rental condominium for $130,000. She purchased it for $105,000 and had claimed $25,000 depreciation Her buyer intends to pay her $26,000 per year plus 6% interest for five years lin