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The land has a basis to randy of 8500 the buyer makes a

In year 1, Randy sells a parcel of land that he held as an investment for a number of years.

The land has a basis to Randy of $8,500. The buyer makes a $6,000 down payment in year 1 and will make a $7,000 payment in year 2 and a $7,000 payment in year 3. In addition, a reasonable rate of interest is charged on the year 2 and year 3 payments. How much income will Randy recognize in years 1, 2, and 3, assuming that he uses the installment method?

What is the result if Randy elects out of the installment method for this sale?

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Solution Preview :

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Macroeconomics: The land has a basis to randy of 8500 the buyer makes a

Reference No:- TGS0653298

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Reference No:- TGS0653298

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