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Fast Intel Co. signs a three-year internet service contract with a customer. The terms of the contract are that the customer is required to pay

Fast Intel Co. signs a three-year internet service contract with a customer. The terms of the contract are that the customer is required to pay a non-refundable activation fee of $150 and a month usage fee of $50 per month. What is the total amount of revenues Fast Intel Co. should recognize from the contract for the first year?

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