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On January 1,2024, Hodge Beanery received $11,800 from the Kennedy Compony in exchange for o coffee roaster that it will deliver to Kennedy on December

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On January 1,2024, Hodge Beanery received $11,800 from the Kennedy Compony in exchange for o coffee roaster that it will deliver to Kennedy on December 31, 2024. Assume that Hodge views the time value of money to be a significant component of this transoction and that a 8% interest rote is applicable. How much deferred revenue would Hodge recognize on January 1, 2024? Note: Use tobles, Excel, or o financial calculator. Round your finol anower to the nearest whole doller. (EV of SL, PV ofS1. PVA of S1. PVA of SI. FVAD of Si and PVAD of Sil

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