On February 1, 2014, Hewitt Construction Company obtained a contract to build an athletic stadium. The stadium (for a local high school) was to be built at a total cost of $5,346,000 and was scheduled for completion by September 1, 2016. One clause of the contract stated that Hewitt was to deduct $14,000 from the $6,711,000 billing price for each week that completion was delayed. Completion was delayed 7 weeks, which resulted in a $98,000 penalty. Below are the data pertaining to the construction period.

Using the percentage-of-completion method, compute the estimated gross profit recognized in the years 20142016.