Trey sold land he purchased four months earlier for use in his business. His cost $($and adjusted basis$)$ in the land is $$40,000.$ He incurred $$6,000$ in expenses related to the sale. The buyer paid $$50,000$ cash and assumed Trey's $$15,000$ loan on the property.

What is the aprount of Trey's gain from the sale of the land, and where on Form $4797$ will the sale be reported?

$$19,000,$ Part I.

$$19,000,$ Part II$.$

$$25,000,$ Part III.

$$25,000,$ Part IV$.$