During 2025, Wildhorse Company started a construction job with a contract price of $1,580,000. The job was completed in 2027. The following information is available. 2025 2026 2027 Costs incurred to date $404,000 $853,160 $1,073,000 Estimated costs to complete 606,000 254,840 -0- Billings to date 301,000 904,000 1,580,000 Collections to date 271,000 812,000 1,418,000 (a) Your answer is correct. Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. Gross profit recognized in 2025 $ 228000 Gross profit recognized in 2026 135440 Gross profit recognized in 2027 $ 143560