1J&J has won a contract for the construction of a bridge near Cape Town Train station. It has estimated that the total cost for this project will be R800000. The policy of the company (38]) is to add a margin of 40% on its cost estimate to get the contract price. It is estimated the company will be able to finish the project in 4 years. The company will incurred the following costs during the life of the project: Year 1: R180000 Year 2: R240000 Year 3: R310000 Year 4: R70000 Calculate how much revenue JJ&J will recognise in each of the 4 years using the percentage of completion method of revenue recognition and IFRS no stage of completion