TopChop sells hairstyling franchises. TopChop receives $60,000 from a new franchisee for providing initial training, equipment, and furnishings that have a stand-alone selling price of $60,000. TopChop also receives $38,000 per year for use of the TopChop name and for ongoing consulting services (starting on the date the franchise is purchased). Carlos became a TopChop franchisee on July 1 , 2024 , and on August 1, 2024, had completed training and was open for business. How much revenue in 2024 will TopChop recognize for its arrangement with Carlos