Brice sells a piece of raw land with a basis of $10,000 which he has owned for years as an investment. What are the tax consequences to Brice, a cash-basis taxpayer, for the following consideration received:
a. Cash of $30,000
b. Motel worth $50,000, subject to $20,000 of liabilities
c. Instalment note due in one year without interest with a face value of $30,000 and a fair market value of $27,000
d. Same as (c), but Brice elects out of instalment reporting