CPA Now sells print materials and an app to help its customers prepare for the CPA. Along with these products, the company also provides updates to the app and coaching services. The stand-alone prices for these goods and services are:

Good/Service	Price
Print materials	$100 per section (4 sections total)
App	$100 (contains questions for all 4 sections)
App updates	Not sold separately
Coaching services	Not sold separately

CPA Now provides a package deal for Accounting students that includes the print materials for all four sections, the app, and free updates and coaching until the student passes the section. The cost of the package is $1,000. Customers download an average of two updates to the app while using it. Using the residual approach, the company estimates the value of an app update to be $25 and the value of the coaching services to be $1,050.

Required:

1. How many separate performance obligations are included in the package deal?

2. How much of the package price of $1,050 should CPA Now allocate to each of the performance obligations?