Pharoah Ltd$.,$ an equipment manufacturer, sold and delivered a piece of equipment to a buyer for $$90,000,$ with $50\%$ payable in one year and the remaining $50\%$ payable in two years from the date of sale. Pharoah estimates that the interest rate for a similar financing arrangement would be $12\%.$ Calculate the amount of revenue that Pharoah should recognize on the date of sale using Excel or a financial calculator. $($Round discount factor to $5$ decimals and final answer to $2$ decimal places, e$.$g$.5,275\mathrm{.}55.)$

Click here to view Table A$\mathrm{.}2-$ PRESENT VALUE OF $1-($PRESENT VALUE OF A SINGLE SUM$)$

Click here to view Table A$\mathrm{.}4-$ PRESENT VALUE OF AN ORDINARY ANNUITY OF $1$

Revenue to be recognized on the date of sale

$$\_\_\_\_\_\_\_($enter the revenue to be recognized on the date of sale in dollars rounded to $2$ decimal places$)$