7 (12 points) At the beginning of 2025 Gordo Yachts enters into a contract to build a luxury yacht for a customer that is expected to take three years to complete. The contract price is $4,000,000. Completion is scheduled for the end of 2027. Gordo's year end is December 31 . The following is a year-by-year summary of construction costs incurred and the estimated costs to complete the projects at the end of each year. Refer to Gordo Yachts. Compute the gross profit for 2025 and 2026 and 2027 using the percentage-of-completion method. Hint- Use the chart we created together in class