Helen purchased an antique cabinet as an investment for 30,000 a few years ago. On January 15 of this year, she sold the cabinet to an art museum for120,000 in an installment sale. She received a down payment of 12,000 and a note requiring monthly principal payments (to begin in March of this year) of5,000. What amount of gain must Helen recognize for the current year?
1) $42,500
2) $46,500
3) $50,000
4) $62,000