Question - Laurel sold property in Dallas Texas to an unrelated party. The property had a basis of $75,000 and a selling price of $150,000. Laurel receives $25,000 in year 0. She receives $50,000 in year 1. She receives $75,000 in year 2. What is Laurel's year 0 taxable income on the sale?
A. $12,500
B. $25,000
C. $37,500
D. $75,000