steve sells a rental house on jan. 1 2012 and receives $130000 cash and a note

steve sells a rental house on jan. 1 2012 and receives $130000 cash and a note for $55000 at 10% interest. the purchaser assumes the mortgage ont the property of $45000 steves adjusted basis in the house is $152000 and he collects only $130000 down payment in the year of sale1. If steve elects to recognize the total gain on the property in the year of sale calculate the taxable gain.2.Assuming steve uses the installment sale method complet form 6252 for the year of sale3 Assuming steve collects $5000 (not including interest) of the note principal in the year following the year of sale calculate the amount of imcome recognized under the installment sale method.