(4) AV Company is a local contractor specializing in installing air-conditioning ducts. They have been commissioned to install ducts in the new Glorietta 4 building over a span of three years of construction. The contract calls for the payment of P2,500,000 to AV Company. The annual costs are given below. How would revenue and eventually profit be recognized if (a) the delivery method or (b) the percentage of completion method was used? Year Annual Costs P450,000 2 P300,000 P750,000 Total P1,500,000