Vaughn Cellular provides cell phones and 1 year of cell service to students for an upfront, non-refundable fee of $282 and a usage fee of $4 per month. Students may renew the service for each year they are on campus (on average, students renew their service one time). What amount of revenue should Vaughn Cellular recognize in the first year of the contract? Revenue Recognized Year 1 $ Year 2 $