Sam decides to sell 5 acres of land for $200,000. The cost basis for the land is $75,000. Sam agrees to sell the property for four equal payments of $50,000- one now and the other three on January 1 for the next 3 years. The note bears adequate interest. What amount is the gain realized on the sale? What amount of the gain is recognized in year 1? What is sam's basis in the note receivable at the end of year 2? Also how do you calculate this?