Cheyenne's Agency sells an insurance policy offered by Capital Insurance Company for a commission of $116 on January 2, 2017. Cheyenne will receive an additional commission of $11 each year for as long as the policyholder does not cancel the policy. After selling the policy, Cheyenne does not have any remaining performance obligations. Based on Cheyenne's significant experience with these types of policies, it estimates that policyholders on average renew the policy for 4.5 yearsafter the first year before terminating their insurance policy. It has no evidence to suggest that previous policyholder behavior will change.

Is the transaction price of the arrangement for Cheyenne, assuming 110 policies are sold= $18,205 and the revenue that Cheyenne will recognize in 2017 is 12,760?