Suppose that on July 1, 2019, Tesla signed a contract with XYZ Co. in which Tesla agreed to design, construct and install a large-commercial solar energy system. The agreed upon price was $1,215,000 and the total estimated contract cost was $800,000. The customer will pay the contract price by making four "milestone" payments of $303,750. The first milestone payment was due on September 1, 2019 and the subsequent milestone payments were due on November 1, 2019, January 1, 2020 and March 1, 2020. During the 2019 fiscal year, Tesla incurred costs of $600,000 and the customer made the first two milestone payments.

How much revenue (for this contract) should Tesla recognize during the fiscal year that ended on December 31, 2019?