Crane$$Inc$.$ has a customer loyalty program that rewards a customer with $1$ customer loyalty point for every $$10$ of purchases. Each point is redeemable for a $$3$ discount on any future purchases. On July $2,2025,$ customers purchase products for $$340,000($with a cost of $$197,200)$ and earn$34,000$points redeemable for future purchases.$$Crane$$expects$29,000$points to be redeemed.$$Crane$$estimates a standalone selling price of $$2\mathrm{.}50$ per point $($or $$85,000$total$)$ on the basis of the likelihood of redemption. The points provide a material right to customers that they would not receive without entering into a contract. As a result,$$Crane$$concludes that the points are a separate performance obligation.$($a$)$Determine the transaction price for the product and the customer loyalty points.Product purchasesLoyalty pointsTotal transaction price