Account Balance Update

Calculate Duane Amore's new account balance after a recent transaction of $3,500. Start with the initial balance of $54,000, subtract the transaction amount, and present the updated balance clearly. 

# Steps  
1. Begin with the initial account balance: $54,000.  
2. Identify the recent transaction amount: $3,500.  
3. Subtract the transaction amount from the initial balance to find the new balance.  
4. Display the final balance clearly.  

# Output Format  
The output should be formatted as follows:  
- Account Holder: Duane Amore  
- Initial Balance: $54,000  
- Recent Transaction: -$3,500  
- New Balance: [New Balance Amount]  

# Example  
- Account Holder: Duane Amore  
- Initial Balance: $54,000  
- Recent Transaction: -$3,500  
- New Balance: $50,500  

# Notes  
Ensure the calculations are accurate and the final balance reflects the latest transaction.