Homework: Chapter 8 Homework Save Score: 0.67 of 1 pt 12 of 24 (12 complete) HW Score: 47.22%, 11.33 of 24 p BE8-7 (similar to) Question Help Lightfoot Billboard Company entered into an agreement to display billboard advertising for Adele Incorporated for 10 months for a $62,000 fixed fee. The agreement also includes a potential $6,800 bonus based on certain goals. Sellet estimates it is 75% likely to receive the entire bonus and 25% likely to receive none of the bonus. What approach should Lightfoot use to estimate variable consideration? What is the estimate of the consideration amount in this contract? Determine the approach Lightfoot should use to estimate variable consideration. The most-likely-amount approach is a more appropriate approach because there are only two possible outcomes Calculate the estimate of the consideration amount in this contract. The total consideration is $