Question: On July 1 5 , 2 0 2 2 , Sequoia Inc. signed a contract to provide Arches Corp. with a sanitizing system for a

On July 15,2022, Sequoia Inc. signed a contract to provide Arches Corp. with a sanitizing system for a price of $79,200. The system included finely tuned measuring devices that fit into Arches Corp.'s automated assembly line, Sequoia Inc.'s proprietary software modified to allow the sanitizing system to function in Arches Corp.'s automated system, and a one-year contract to calibrate the equipment and software on an as-needed basis. If Sequoia Inc. was to provide these goods or services separately, it would charge $51,000 for the measuring devices, $10,000 for the software, and $39,000 for the calibration contract. Sequoia Inc. delivered and installed the equipment and software on August 1,2022, and the calibration service commenced on that date.
Assume that the measuring devices, software and calibration service are viewed as one performance obligation. How much revenue will Sequoia Inc. recognize in 2022 for this contract?

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