Craddock Co. sold 3,000 audio systems during 2022 at $1,125 each. Included in each price is $125 that related to sales of warranty contracts. Craddock estimates the total cost of servicing the warranties will be $225,000 for the 2-year warranty period. During 2022, Craddock spent $75,000 servicing these products. If you assume that revenues earned are computed over the contract period in proportion to the costs expected to be incurred and estimated costs

What would be the recognized Warranty Revenue for 2022 ?