Supplier Corp. enters into a government contract during the year to provide computer equipment for $$2,400,000.$ The contract consists of a single

performance obligation to provide specified equipment in three years. Total costs estimated by Supplier Corp. for the contract are $$1,680,000.$ The

equipment is highly specialized and has no alternative uses. As negotiated in the contract, any costs incurred by Supplier Corp. plus a specified profit

margin will be paid to Supplier Corp. in the event of a contract cancellation. Actual costs incurred during the first year of the contract were $$768,000$

including unexpected cost overruns of $$96,000$ due to labor inefficiencies.

Assume that at the end of the second year of the contract, the estimate of total costs has increased to $$1,800,000$ million due to an increase in cost of

materials. Actual costs incurred to date are $$1,350,000,$ excluding year one inefficiencies.

a$.$ Calculate $(1)$ recognized revenue, $(2)$ the gross profit, and $(3)$ adjusted contract margin to be recorded in the second year of the contract.