On 1 December 20X4, Henley Co began another contract to build an asset for a customer. Henley Co has spent $10,000 so far and believes it may cost $800,000 to complete. The total price of the contract is $1 million. Henley Co uses an output method to measure progress, but as the contract has only just begun, is unable to measure the progress made towards completion at 31 December 20X4 . How much revenue should Henley Co recognise for the year ending 31 December 20X4?