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On July 25 of this year, Raj sold land with a cost of $15,000 for...

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Accounting

On July 25 of this year, Raj sold land with a cost of $15,000 for $40,000. Raj collected $20,000 this year and is scheduled to receive $5,000 each year for four years starting next year plus an acceptable rate of interest. Raj's gain recognized this year is?

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