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On January 1, 20x1, ABC, Inc. sold a $480 snow blower with a $120 extended warranty. The warranty covers three years of repairs. Assuming

On January 1, 20x1, ABC, Inc. sold a $480 snow blower with a $120 extended warranty. The warranty covers three years of repairs. Assuming the costs are incurred evenly over the warranty, How much warranty revenue would ABC recognize in 20x1?

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