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Sonex Construction Co. incurred the following costs and made the following estimates in the first two years of a three-year construction project. Using the percentage-of-completion

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Sonex Construction Co. incurred the following costs and made the following estimates in the first two years of a three-year construction project. Using the percentage-of-completion method of accounting, how much gross profit would Sonex recognize in Year 2 ? $1,000,000$562,500$800,000

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