Pharoah Company sells goods that cost $275,000 to Kenneth Company for $410,000 on January 2, 2023. The sales price includes an installation fee, which is valued at $44,100. The fair value of the goods is $375,900. The goods were delivered on March 1,2023. Installation is considered a separate performance obligation and was completed on June 18, 2023. Under the terms of the contract, Kenneth pays Pharoah $266,000 on delivery of the goods and the balance at the completion of the installation. (a) Using the five-step process for revenue recognition, determine when and how much revenue would be recognized by Pharoah. Assume IFRS is followed. (Round percentage ollocations to 2 decimol ploces. 15.25% and final answers to 0 decimal places, es. 5.275 )