On May $1,2024,$ Varga Tech Services signed a $$144,000$ consulting contract with Shaffer Holdings. The contract requires

Varga to provide computer technology support services whenever requested over the period from May $1,2024,$ to April $30,$

$2025,$ with Shaffer paying the entire $$144,000$ on May $1,2024.$

How much revenue should Varga recognize in $2024?$

Note: Do not round intermediate calculation.