At the end of Year 2 of a three-year project that has a contract price of $3,800,000, Marsh Company has incurred $1,800,000 in actual costs and expects to incur another $1,200,000 in Year 3. Assuming the percent complete at the end of Year 1 was 32%, for Year 2, Marsh would record revenue of _____________________ if using the percentage-of-completion method or revenue of _________________ if using the completed-contract method.

Group of answer choices

$1,064,000 / $0

$2,280,000 / $2,280,000

$1,064,000 / $1,064,000

$2,280,000 / $0