To keep up with sales trends, Wildhorse Inc., a public company following IFS, implemented a customer loyalty program that rewards a customer with one loyalty point for every $32 of purchases. Each point is redeemable for a $1 discount on any purchases of Wildhorse merchandise in the next two years. Following the implementation of the program, during 2023, customers purchased products for $291,200 and earned 9,100 points redeemable for future purchases. (All products are sold to provide a 45% gross profit.) The stand-alone selling price of the purchased products is $291,200. Based on prior experience with incentive programs like this, Wildhorse expects 7,600 points to be redeemed related to these sales