The ultimate frisbee league (ufl) licenses its trademark to tank-skin apparel. under the license arrangement, tank-skin pays the ufl a $1 million initial license fee plus a bonus when annual sales of tank-skin merchandise reach a threshold. the license agreement is for 4 years. how much of the $1 million initial license fee should the ufl recognize as revenue in the first year of the contract? select one:
a. $1,000,000
b. $250,000
c. $0
d. cannot tell from information given.
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