4 look References TB MC Qu. 6-110 (Algo) On June 1, 2024, Emmet Property Management entered... On June 1, 2024, Emmet Property Management entered into a 2-year contract to oversee leasing and maintenance for an apartment building. The contract starts on July 1, 2024, Under the terms of the contract, Emmet will be paid a fixed fee of $68,000 per year and will receive an additional 15% of the feed fee at the end of each year provided that building occupancy exceeds 90% Emmet estimates a 30% chance it will exceed the occupancy threshold, and concludes the venue recognition over time is appropriate for this contract. Assume Emmet estimates variable consideration as the expected value. How much revenue should Emmet recognize on the contract in 20247 Note: Round final answer to whole dollars. Multiple Choice $37750 $35,530