Kitty Jen Limited (KUL) is a public company following IFRS. KUL recently started business and decided to have a loyalty program for its customers. Customers may earn points for every $20 of merchandise purchased. Each point is redeemable for a $3.00 discount on any purchases of KL merchandise in the next four years. In the current year, KJL made $200,000 of sales (at a gross profit percentage of 30%) and customers earned 8,000 points associated with these sales. The stand-alone selling price of the merchandise sold is $200,000. KJL anticipates that customers will redeem 75% of these points related to the sales. How much revenue should be recognized by KJL related to the current year sales? Round your answer to the nearest dollar