GeekCo agrees to create a proprietary software application for BlockbusterInc. If the software is delivered on time, GeekCo will be paid $100,000. There is a $10,000 penalty for each week that the software is delayed. GeekCo estimates that there is an 80% chance that the software will be delivered on time, a 15% chance it will be delivered one week late, and a 5% chance that it will be two weeks late. If GeekCo recognizes income using the expected value approach, how much revenue should GeekCo recognize?

a) $100,000

b) $90,000

c) $97,500

d) $97,000