Steve and his son Andrew are joint business owners. Steve wants to retire, but Andrew does not have enough money to buy the business outright. Steve also does not want to recognize the capital gain all in one year if the business is sold. They agree to enter into an installment sale. Which of the following statements is/are incorrect? A. Andrew must make his first payment within one year of the sale.

B. The sale must be for full fair market value.

C. Payments will cease at the sooner of the set period or upon Steves death.

D. A portion of each payment received by Steve will be classified as capital gain.