Exercise 18-8 Culver's Agency sells an insurance policy offered by Capital Insurance Company for a commission of $110 on January 2, 2017. Culver will receive an additional commission of $9 each year for as long as the policyholder does not cancel the policy. After selling the policy, Culver does not have any remaining performance obligations. Based on Culver'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 Culver, assuming 100 policies are sold. Transaction price Transaction price 15050 SHOW SOLUTION LINK TO TEXT LINK TO TEXT x Your answer is incorrect. Try again. Determine the revenue that Culver will recognize in 2017. (Round answer to 0 decimal places, e.g. 5,125.) Revenue