Saar Associates sells two licenses to Kim & Company on September 1, 2021. First, in exchange for $108,000, Saar provides Kim with a copy of its proprietary investment management software, which Saar does not anticipate updating and which Kim can use permanently. Second, in exchange for $97,200, Saar provides Kim with a four-year right to market Kim's financial advisory services under the name of Saar Associates, which Saar advertises on an ongoing basis. The trade name "Saar Associates" is not well known in the marketplace and the owner provides no advertising or other benefits to a licensee of the Saar Associates trade name during the license period. How much revenue will Saar recognize in 2021 under this arrangement if Saar reports under IFRS? Answer is complete but not entirely correct. Revenue S 108.000 3 Leo Consulting enters into a contract with Highgate University to restructure Highgate's processes for purchasing goods from suppliers. The contract states that Leo will earn a fixed fee of $50,000 and earn an additional $10,000 if Highgate achieves $100,000 of cost savings Leo estimates a 75% chance that Highgate will achieve $100,000 of cost savings. Assuming that tea determines the transaction price as the expected value of expected consideration, what transaction price will leo estimate for this contract? Possible Amounts Probabilities Expected Amounts % Expected contract price at inception $ 0