Delmonte Builders is currently working on a three year building project for a client. Delmonte recognizes revenues based on the percentage of the work completed by the end of each year. The following table shows the project progress over the three-year period.

Year	1	2	3
Total price of the three year project	$10,000,000	$10,000,000	$10,000,000
Percentage of the work completed	18%	75%	100%
Cash received from the client	$3,500,000	$3,500,000	$3,000,000

REQUIRED: How much revenue should Delmonte recognize in Years 2 and 3? Explain.