On September 1, Year 1, Rodriguez Company sells inventory costing $240,250 for $775,000. The sales agreement states that the buyer will pay $150,000 down and 25 equal monthly installment payments, with the first payment beginning on October 1, Year 1. Required Compute the amount of gross profit to be recognized for each of the three years. Note: Assume that since collection is not assured (significant uncertainty), the company has decided to use the installment sales method of recognizing revenue. Year 1 Year 2 Year 3: Clear Undo Help