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Demonstrate what the revenue earned is

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Problem 1: A clothing store maintains a loyalty program for its customers. For every purchase, members receive points that do not expire. In fiscal 2016, the store made sales of $1 million and awarded 50,000 points that have a fair value of $50,000. The company estimates that approximately 75% of these points will be redeemed by members. Members redeemed 10,000 points in fiscal 2017. The revenue earned in 2017 is:

A) 26,667

B) 13,333

C) 24,450

D) 50,000

Reference no: EM132719355

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