Pita Pal sells fast-food franchises. Pita Pal receives P75,000 from a new franchisee for providing initial training, equipment, and furnishings that together have a stand-alone selling price of P75,000. Pita Pal also receives P36,000 per year for use of the Pita Pal name and for ongoing consulting services (starting on the date the franchise is purchased). Rachel became a Pita Pal franchisee on March 1, 20x6, and on May 1, 20x6 Rachel had completed the training and was open for business. How much revenue in 20x6 will Pita Pal recognize for its arrangement with Rachel? O P75.000 P99.000 P111,0000