Jasmine Sold Land for $250,000 in 2016

Multiple Choice

Jasmine sold land for $250,000 in 2016.The land had a basis of $118,000 and she incurred selling expenses of $10,000.Jasmine received $50,000 down in 2016 and will receive five additional annual payments of $40,000 each.How much income will Jasmine recognize in 2017 when she receives the first additional payment of $40,000?

A) $19,520.
B) $0.
C) $40,000.
D) $18,880.