CullumberCompany sells goods that cost $335,000toBrambleCompany for $435,000on January 2, 2020. The sales price includes an installation fee, which is valued at $44,500. The fair value of the goods is $400,500. The goods were delivered on March 1, 2020. Installation is considered a separate performance obligation and was completed on June 18, 2020. Under the terms of the contract,BrambleCompany paysCullumber$275,000upon delivery of the goods and the balance at the completion of the installation.

Using the five-step process for revenue recognition, determine when and how much revenue would be recognized byCullumber. Assume IFRS is followed.(Round percentage allocations to 2 decimal places, 15.25 and final answers to 0 decimal places, e.g. 5,275.)