Question: Barbara Brown signs a one - year contract with Ivanhoe Health Club. The terms of the contract are that Barbara is required to pay a
Barbara Brown signs a oneyear contract with Ivanhoe Health Club. The terms of the contract are that Barbara is required to pay a
nonrefundable initiation fee of $ and an annual membership fee of $ per month. Ivanhoe determines that its customers, on
average, renew their annual membership twice before terminating their membership.
What amount of revenue should Ivanhoe recognize per month? Round answers to decimal places, eg
Revenue $ per month
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