Tonya sold publicly traded stock with an adjusted basis of $76,000 for $90,000. Tonya received a down payment of $15,000 with the balance due in equal payments over the next four years. What is the amount of gross profit to be recognized in the year of sale?

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The Answer of Tonya sold publicly traded stock with an adjusted basis of $76,000 for $90,000. Tonya received a down payment of $15,000 with the balance due in equal payments over the next four years. What is the amount of gross profit to be recognized in the year of sale?

Tonya Sold Publicly Traded Stock with an Adjusted Basis of $76,000