Wynne Inc. charges an initial franchise fee of $920,000, with $200,000 paid when the agreement is signed and the balance in five annual payments. The present value of the future payments, discounted at 10%, is $545,872. The franchisee has the option to purchase $120,000 of equipment for $96,000. Wynne has substancially provided all initial services required and collectibility of the payments is reasonably assured. The amount of revenue from franchise fees is ??