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Skysong Cellular provides cell phones and 1 year of cell service to students for an upfront,...

Skysong Cellular provides cell phones and 1 year of cell service to students for an upfront, nonrefundable fee of $298 and a usage fee of $6 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 Skysong Cellular recognize in the first year of the contract?

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