Wildhorse Corporation uses the percentage-of-completion method. At the end of the first year of a $9002000 contract, the following information is available: Costs to date: Estimated costs to complete Progress billings during the year Cash collected during the year $2009250 O $278000 O $965000 O $723750 O $241250 6027750 1821000 1543000 In the first year, Wildhorse should recognize gross profit of (Do not round intermediate calculations.)