Diamond, Inc. (Diamond) has a 5-year construction contract to build a 60-mile canal for $600,000. The estimate of total costs is $400,000. Year 1 and Year 2 incurred costs are, respectively, $100,000 and $20,000. Diamond finished 18 miles in Year 1 and 6 miles in year 2. If Diamond uses the cost to cost ratio method to recognize revenue, which of the following revenue amounts would Diamond report for Year 1 and Year 2, respectively?

Group of answer choices

$0, $0

$150,000, $180,000

$60,000, $180,000

$150,000, $30,000