On September 1, Year 1, SST Ltd. sold a new all-in-one printer to Millennium Co. for a total contract price of $5,300. As part of the contract, SST always provides on-site installation when a customer purchases a printer; customers would not be able to obtain the installation service from other suppliers. The contract payment also includes a three-year maintenance service agreement. SST also separately sells the printer and installation for $3,600 and the maintenance service for $1,800. SST estimates that the fair value of the printer is $3,400 and the fair value of the installation service is $200. The printer was delivered and installed on September 15, Year 1. As part of the agreement, SST agrees to the following payment terms from Millennium: September 1, Year 1 $4,100 September 1, Year 2 $600 September 1, Year 3 $600 SST has determined that the credit risk rate associated with Millennium is 8%. Which of the following statements is true for SST when recording the transaction on September 15, Year 1, on the income statement?

a.) $3447

b.) $3255

c.) $3400

d.) $3600