Churyk Company manufactures equipment. Churyk has the following arrangement with Kay Inc. Kay purchases equipment from Churyk for a price of $1,000,000 and contracts with Churyk to install the equipment. Churyk charges the same price for the equipment irrespective of whether it does the installation or not. Using market data, Churyk determines installation service is estimated to have a fair value of $50,000. The cost of the equipment is $600,000. Kay is obligated to pay Churyk the $1,000,000 upon the delivery and installation of the equipment. Churyk delivers the equipment on June 1, 2017, and completes the installation of the equipment on September 30, 2017. Assume that the equipment and the installation are two distinct performance obligations. How should the transaction price of $1,000,000 be allocated among the service obligations? Round to whole number (no decimals) Equipment = Installation =