In year 1, Maxim sold investment land with a tax basis of $77,000. Payment consisted of $10,000 cash down and the purchaser's note for $90,000. The note is payable in equal installments of $45,000 in years 2 and 3. Compute Maxim's realized gain on the sale of the land. Compute Maxim's gross profit percentage on the sale of the land under the installment sale method. Compute Maxim's recognized gain under the installment sale method in years 1, 2, and 3.

a) Realized gain on the sale of land = Selling price – tax basis

=> $100,000 - $77,000 = $23,000

b) Gross profit percentage as per instalment sale method = Gross profit / Sales

=> $23,000/$100,000 = 0.23 or 23%

c) Recognized gain under instalment sale method = Cash collection x gross profit percentage

Year 1 => $10,000 x 23% = $2,300

Year 2 => $45,000 x 23% = $10,350

Year 3 => $45,000 x 23% = $10,350

1. avoid them

2. a talk with them

3. ask someone you trust

4. ignore

5. call police

according to the song of roland, the characteristics of an ideal knight are: loyalty to the king, skilled warriors and horseman, valiant, bold, courageous, strong and proud in battle. they should be determined to fulfil their duties and willing to die to make their people safe.