(0) Turner Inc. began work on a $7 million non-cancellable contract in 2021 to construct an office building. During 2021, Turner incurred costs of $1.7M, billed its customers for $1.2M (non-refundable), and collected $960,000. At December 31, 2021, the estimated future costs to complete the project totaled $3.3M. Assuming Turner follows the percentage-of-completion method, how much gross profit should they have recognized on the contract at December 31, 2021?