Ulrich Co sells an asset to a buyer for a total sales price of $6,000 with a payment schedule of $2,000 in year 1, $2,000 in year 2, and $2,000 in year 3 . The cost of the asset is $5,000 . Under the cost-recovery-first method, what amount of net profit is recognized in year 3?
a. $2,000
b. $1,000
c. $666.67
d. $333.33
e. $0
B
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