Scotch Manufacturers constructs luxury cruise ships which take an average of 33 months to complete. During 2013, Scotch began construction on a cruise ship for Heavenly Vacations. The contract price is $4,600,000 with completion scheduled for early in 2015. The company's fiscal year ends on December 31. The following is a year-by-year recap of construction costs incurred and the estimated costs to complete the project as of the end of each year.

	2013		2014		2015
Actual costs incurred during the year	$	920,000	$	2,420,000	$	945,000
Actual costs incurred in prior years		0		920,000		3,340,000
Cumulative actual costs incurred to date		920,000		3,340,000		4,285,000
Estimated costs to complete at end of year		2,420,000		835,000		0
Total costs (actual + estimated)	$	3,340,000	$	4,175,000	$	4,285,000
Billings made during the year	$	870,000	$	4,300,000	$	1,550,000
Cash collections during year		670,000		2,850,000		2,350,000

How much gross profit will Scotch Manufacturers recognize in 2013 assuming Scotch Manufacturers uses the percentage-of-completion method? (Round percentages to the nearest whole amount. Round your answer to the nearest dollar amount.)