TPW, a calendar year taxpayer, sold land with a $541,000 tax basis for $875,000 in February. The purchaser paid $87,500 cash at closing and gave TPW an interest-bearing note for the $787,500 remaining price. In August, TPW received a $62,975 payment from the purchaser consisting of a $39,375 principal payment and a $23,600 interest payment. In the first year after the year of sale, TPW received payments totaling $120,950 from the purchaser. The total consisted of $78,750 principal payments and $42,200 interest payments. Required:
a. Compute gain realized on the sale.
b. Compute gain recognized in the year of sale if TPW elects not to use the installment sale method of accounting. Compute TPW's tax basis in the note at the end of the year.
c. Compute gain recognized in the year of sale if TPW uses the installment sale method of accounting. Compute TPW's tax basis in the note at the end of the year.

Read the overview below and complete the activities that follow.apartment complexes often look for ways to recruit new tenants and retain current tenants. although apartment complexes offer the tangible benefit of shelter to their tenants, many apartment complexes also offer additional services to tenants to encourage tenants to stay or to support the rent prices. the following scenario identifies the several service gaps of a company that runs an apartment complex as well as solutions for reducing these service gaps.concept review: customers have certain expectations about how a service should be delivered. a service gap occurs when the delivery of a service fails to meet customer expectations. there are four types of service gaps: knowledge gap, standards gap, delivery gap, and the communications gap. it is important for marketers to identify these gaps and develop strategies for minimizing them.match the example or solution to the appropriate service gap category.1. wait for repairs 5. train employees well2. understand expectations 6. incentives for tenants3. do not overpromise 7. family movie night4. empower employees 8. delayed lawn careservice gap example solutionknowledge gap standards gap delivery gap communication gap