Pronghorn Inc. sells an irrigation system that cost $176,000 to McGraw Company for $356,000 on March 2, 2017. The sales price includes an installation fee. The standalone price of the installation fee is $60,000. The standalone price of the irrigation system is $331,000. The installation is considered a separate performance obligation and is expected to take 3 months to complete. (a) Your answer is incorrect. Allocate Pronghorn's total selling price for the irrigation system and installation to the two performance obligations (delivery of the irrigation system and installation). (Round intermediate calculations to 6 decimal places, e.g. 1.246871 and final answers to O decimal places, e.g. 5,125.) Irrigation system $ Installation ta $