Exercise 18-8 Bonita's Agency sells an insurance policy offered by Capital Insurance Company for a commission of $82 on January 2, 2017. Bonita will receive an additional commission of $8 each year for as long as the policyholder does not cancel the policy. After selling the policy, Bonita does not have any remaining performance obligations. Based on Bonita's significant experience with these types of policies, it estimates that policyholders on average renew the policy for 4.5 years after the first year before terminating their insurance policy. It has no evidence to suggest that previous policyholder behavior will change. Your answer is correct. Determine the transaction price of the arrangement for Bonita, assuming 110 policies are sold. Transaction price 12,980 SHOW SOLUTION LINK TO TEXT LINK TO TEXT Your answer is incorrect. Try again. Determine the revenue that Bonita will recognize in 2017. (Round answer to O decimal places, e.g. 5,125.) Revenue 2884