HW 10-24: Maxwell Manufacturing contracts to produce bumper cars for Fix Flags Parks. Under the terms of the contract, Six Flags will pay Maxwell a total of $60,000 when bumper cars are delivered six months later, and Six Flags can cancel the contract but must pay $12,000 to Maxwell. Maxwell believes that, if Six Flags cancelled the contract, Maxwell could sell the bumper cars to another park. As of December 31, 2020, the job is 80% complete. How much revenue should Maxwell recognize in 2020 for this contract?

	a.	$0
	b.	$12,000
	c.	$30,000
	d.	$48,000
	e.	$60,000