Ivanhoe Windows manufactures and sells custom storm windows for porches. Ivanhoe also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Ivanhoe enters into the following non-cancellable contract on July 1,2023, with a local homeowner. The customer purchases windows for a price of $2,450 and chooses Ivanhoe to do the instaliation. Ivanhoe charges the same price for the windows regardless of whether it does the installation or not. The price of the installation service is estimated to have a fair value of $583. The customer pays Ivanhoe $2,067 (which equals the fair value of the windows, which have a cost of $1,200 ) on delivery and the remaining balance on installation of the windows. The windows are delivered on September 1,2023, Ivanhoe completes installation on October 15, 2023, and the customer pays the balance due. Using the five-step process for revenue recogt ition, determine when and how much revenue would be recognized by Ivanhoe. Assume Ivanhoe follows IFR5. (Round percentage allocations to 2 decimal places, 15.25% and final answers to 0 decimal places, es. 5.275.)