Wildhorse Company sells goods that cost $300,000 to Jack Company for $420,000 on January 2, 2023. The sales price includes an installation fee, which is valued at $43,000. The fair value of the goods is $387,000. The goods were delivered on March 1,2023. Installation is considered a separate performance obligation and was completed on June 18, 2023. Under the terms of the contract, Jack pays Wildhorse $279,000 on delivery of the goods and the balance at the completion of the installation. (a) Using the five-step process for revenue recognition, determine when and how much revenue would be recognized by Wildhorse. Assume IFRS is followed. (Round percentage allocations to 2 decimal places, 15.25\% and final answers to 0 decimal places, eg . 2.275 .)