On June 1, 2001, Emmet Property Management entered into a 2 year contract to oversee leasing and maintenance for an apartment building. The contract starts on July 1, 2021. Under the terms of the contract, Emmet will be paid a foued fee of $54.000 per year and will receive an additional 10% of the fixed fee at the end of each year provided that building occupancy exceeds 80%. Emmet estimates a 20% chance it will exceed the occupancy threshold and condudes the revenue recognion over time is appropriate for this contract Assume Emmet estimates variable consideration as the expected value. How much revenue should Emmet recognize on this contract in 2021? $27.000 127.540 530,750 554.000