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The Fremont ( Ireland ) Flyers were a semi - professional carriage racing team that competed up until the early 1 9 3 0 s

The Fremont (Ireland) Flyers were a semi-professional carriage racing team that competed up until the early 1930s. Mary Smith owns the Fremont Flyers' trademark, and recently licensed it to the Fremont (California) Flyers roller derby team. The license allows the roller derby team to use the trademark for five years for a total of $15,000. Under U.S. GAAP, how much revenue would Mary recognize in year 1 of the license?

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