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In Janu 2021, Continental Fund Services, Inc., enters into a one-year contract with a client to provide investment advisory services The cowany will receive a

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In Janu 2021, Continental Fund Services, Inc., enters into a one-year contract with a client to provide investment advisory services The cowany will receive a management fee, prepaid at the beginning of the contract, that is calculated as 10% of the client's $150 million total assets being managed. In addition, the contract specifies that Continental will receive a performance bonus of 25% of any returns in excess of the return on the Dow Jones Industrial Average market Index. Continental estimates that it will earn a $2 milion performance bonus, but is very uncertain of that estimate, given that the bonus depends on a highly volatile stock market. On what transaction price should Continental base revenue recognition? (Enter your answer in millions rounded to 2 decimal places (l.e., 5,500,000 should be entered as 5.50).) Tratschon pribe million

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