HeadlandsLtd., an equipment manufacturer, sold and delivered a piece of equipment to a buyer for $108,000, with50% payable in one year and the remaining50% payable in two years from the date of sale.Headlandsestimates that the interest rate for a similar financing arrangement would be12%. Calculate the amount of revenue thatHeadlandsshould recognize on the date of sale.(Round discount factor to 5 decimals and final answer to 2 decimal places, e.g. 5,275.25.)

Revenue to be recognized on the date of sale

$ ?