Pepita Management Company entered into a 2-year contract to oversee leasing and maintenance for an apartment building on June 1, 2022. The contract starts on July 1, 2022. Under the terms of the contract, Pepita will be paid a fixed fee of $60,000 per year and will receive an additional 10% of the fixed fee at the end of each year provided that building occupancy exceeds 80%. Pepita estimates a 40% chance it will exceed the occupancy threshold, and concludes the revenue recognition over time is appropriate for this contract. Assume Pepita estimates variable consideration as the most likely amount. How much revenue should Pepita's recognize on this contract in 2022 ? Explain your