Cellular, Inc. is offering a promotion for new customers signing a contract: Purchase a new handset, a one-year service agreement, and set of headphones for $710. The transaction price as stated to the customer is $150 for the headset, $480 for the one-year service agreement, and $80 for the set of headphones. Allocate the $710 transaction price under the following scenario: Two of the three items (service and handset) are sold separately by Cellular. The standalone selling prices of the handset and one-year service agreement are $200 and $480 respectively. Because Cellular has never sold headphones prior to this promotion, Cellular determined the average selling price of similar headphones in the market place to be $100. Using the Market Assessment Approach, allocate the transaction price to each of the three performance obligations: 1. Handset 2. One-year Service Agreement 3. Set of Headphones *when calculating your answer, do not round your ratio. Only round your final answer to the nearest whole dollar. You do not need to enter a $ sign. For example, if you determine the Handset represents $200 out of a $760 "package", your ratio is .2631578947 (do not round this ratio). Apply this ratio to your transaction price to allocate the price to this performance obligation