please answer asap for a good rating On January 1, 2024, Elite...
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On January 1, 2024, Elite Actuentising was contracted to run a marketing campaign for Phorm King's new dieting pills. In addition to getting a base fee of $174,000 for the 3year campaign, Elite also may get an additional 15% of the base fee as a bonus if a targeted sales level is reached at the end of three years. Elite currently lacks sufficient information to make an estimate of the likelhood of the expected bonus, with the marketing director indicating that "if you forced me to make an estimate, I'd say we have a 50/50 chance. But don't quote me on that - it's really too early to teil." Elite concludes this controct qualfies for revenue recognition over time, and estimates variable consideration using the most likely amount. How much revenue should Elite recognize as of December 31, 2024? Multiple Choice $66,700 $84,100$58,000 $62.350
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