During 2025, Nilsen Company started a construction job with a contract price of $1,600,000. The job was completed in 2027. The following information is available. 2025 2026 2027 Costs incurred to date $400,000 $825,000 $1,070,000 Estimated costs to complete 600,000 275,000 -0- Billings to date 300,000 900,000 1,600,000 Collections to date 270,000 810,000 1,425,000 Your answer is partially correct. Compute the amount of gross profit to be recognized each year, assuming the cost-recovery method is used. Gross profit eTextbook and Media Solution 2025 10000 2026 75000 2027 530000 Assistance Used