You sell property with an adjusted basis of $23,000. You have selling expenses of $2,000. The buyer assumes your existing mortgage of $20,000 and agrees to pay you $15,000 (by cash down payment of $3,000 and $3,000 (plus 12% interest) in each of the next 4 years). How much of each $3,000 payment is recognized gain on sale when received? Select one: a. $1,500 b. $3,000 c. $1,000 d. $2,000