A communications company sells a phone and a 2 -year non-cancellable cellular communications service contract from $100 per month ( $2,400 in total). A customer can buy the phone without a contract for $500 and a customer can provide their own phone and just buy the 2-year service contract for $50 per month. Approximately how much of the contract price can be recognized when the phone is delivered to the customer? $500 $100 $706 $2,400 $1,694