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19. Jasmine sold land for $250,000 in 2019. The land had a basis of $128,000....

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Accounting

19. Jasmine sold land for $250,000 in 2019. The land had a basis of $128,000. Jasmine received $50,000 down in 2019 and will receive five additional annual payments of $40,000 each. How much income will Jasmine recognize in 2020 when she receives the first additional payment of $40,000?

A. $0. B. $20,480. C. $19,520. D. $40,000

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