Pronghorn's Agency sells an insurance policy offered by Capital Insurance Company for a commission of $116 on January 2, 2020. In addition, Pronghorn will receive an additional commission of $12 each year for as long as the policyholder does not cancel the policy. After selling the policy, Pronghorn does not have any remaining performance obligations. Based on Pronghorn's significant experience with these types of policies, it estimates that policyholders on average renew the policy for 4.5 years. It has no evidence to suggest that previous policyholder behavior will change. Your answer is correct. Determine the transaction price of the arrangement for Pronghorn, assuming 85 policies are sold. Transaction price $ 14450 14450 * Your answer is incorrect. Determine the revenue that Pronghorn will recognize in 2020. (Round answer to O decimal places, e.g. 5,125.) Revenue $ 3212