the question is indicated on the picture and the correct answer is option D. Please provide a solution.

3. On January 1, 20x1, Feedback, a music record label, licenses to a customer a 1975 recording of a classical symphony by a noted orchestra. The customer, a consumer products company, has the right to use the recorded symphony in all commercials, including television, radio and online advertisements for 2 years in the Philippines. In exchange for providing the license, Feedback receives a fixed consideration of P10,000 per month. The contract does not include any other goods or services to be provided by Feedback. The contract is non-cancellable. The license is transferred to the customer on January 1, 20x1. The appropriate discount rate is 12%. How much contract revenue (excluding interest revenue) will Feedback recognize in 20x1? a. 120,000 c. 202,806 b. 240,000 d. 212,434 (IFRS 15.TE303-306 - Adapted)