Movie Ltd., a public company, offers its customers loyalty points every time they purchase movie tickets. The 500 loyalty points can be redeemed for one ticket. During January, 2020, Movie Ltd. offered 2,000 points to customers who purchased tickets for $1,000 cash. The standalone value of the 2,000 points is $80, and the standalone value for tickets is $990. No loyalty points are redeemed in January. How much of revenues should Movie Ltd., recognize in January, 2020? (Do not round at intermediate steps. Please round the final amount of revenues to the nearest dollar) $1,000 $990 $1,070 $930 none of the above