F Your answer is incorrect. Carla Vista Ride Ltd. operates an online booking service for luxury car rentals around the world. Users of the company's website booked luxury cars totalling $7.42 million in 2024 . Bookings are fully paid for at the time of reservation and are fully refundable if the reservation is cancelled anytime up to 20 days before the reservation date. After that date, the reservations are non-cancellable. Under the terms of the company's listing agreements with luxury car owners, Carla Vista Ride charges a fee of 12% of the total reservation and electronically transfers the balance of the cash collected directly to the car owner's bank five days before the reservation date. Of the 2024 bookings, 75% had been completed before Carla Vista Ride's December 31 year end. The balance of the bookings were still within the cancellation period. (a1) Determine how much revenue Carla Vista Ride would be able to recognize in 2024. Revenue recognized on 2024