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On June 1. 2024, Emmet Property Management entered into a 2-year contract to oversee leasing and maintenance for an apartment building. The contract starts on July 1, 2024. Under the terms of the controct. Emmet will be paid a fixed fee of $65,000 per year and will receive an additional 15% of the fixed fee at the end of each year provided that builing occupancy exceeds 90%. Emmet estimates a 30% chance it will exceed the occupancy threshold, and concludes the revenue recognition over time is appropriate for this contract. Assume Emmot estimates variable consideration as the most theiy amount. How much revenue should Emmet recognize on this controct in 2024 ? Mulliple Choice $36,250 533,963 $65,000 $32.500