The Fremont (Ireland) Flyers were a semi-professional carriage racing team that competed up until the early 1930's. Mary Smith owns the Fremont Fliers' trademark, and recently licensed it to the Fremont (California) Flyers roller derby team. The license allows the roller derby team to use the trademark for five years for a total of $15,000. Under U. S. GAAP, how much revenue would Mary recognize in year 1 of the license?
a. $0
b. $1,500
c. $3,000
d, $15,000
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