Sancocho Company sells restaurants franchises. Sancocho receives $100,000 from a new franchisee for providing initial training, equipment, and furnishings that together have a stand-alone selling price of $100,000. Sancocho also receives $30,000 per year for use of the Sancocho name and for ongoing consulting services (starting on the date the franchise is purchased). Felicita Prez became a Sancocho franchisee on February 1, 2020, and on July 1, 2020 Felicita had completed training and was open for business. How much revenue in 2020 will Sancocho Company recognize for its arrangement with Felicita Prez?

Explain your answer.