Luke sold land valued at $210,040. His original basis in the land was $179,980. For the land, Luke received $60,040 in cash in the current year and a note providing $150,000 in the subsequent year. What is Luke's recognized gain in the current and subsequent year, respectively? (Do not round intermediate values. Round final values to whole number.)

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The Answer of Luke sold land valued at $210,040. His original basis in the land was $179,980. For the land, Luke received $60,040 in cash in the current year and a note providing $150,000 in the subsequent year. What is Luke's recognized gain in the current and subsequent year, respectively? (Do not round intermediate values. Round final values to whole number.)

Luke Sold Land Valued at $210,040