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During 2014, Nilsen Company started a construction job with a contract price of $1,706,000. The job was completed in 2016. The following information is available.

During 2014, Nilsen Company started a construction job with a contract price of $1,706,000. The job was completed in 2016. The following information is available.

2014 2015 2016
Costs incurred to date $344,400 $887,170 $1,098,000
Estimated costs to complete 639,600 235,830 0
Billings to date 281,000 883,500 1,706,000
Collections to date 269,300 823,400

1,446,000

Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used.

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