The company signed an $800,000 contract to build an environmentally friendly access trail to South Willow Lake. The project was expected to take approximately three years. The following information was collected for each year of the project'Year 1, Year 2, and Year 3:

The company uses the percentage-of-completion method of computing revenue from long-term construction contracts. Assume that the company employs the cost-to-cost method of estimating the percentage of completion. Compute the amount of revenue to be recognized in
(1) Year 1,
(2) Year 2, and
(3) Year3.

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Expected Support Additiona Trail Feet Additional Support Constructed Trail Feet Cost Expended Additiona Timbers during Cost toLaid during Timbers during to Be the Year Completion the Y to Be Laid the Y Constructed Year 100,000 Year 2 150,000 250,000 $450,000 280,000 150 300 500 850 520 3,000 7.500 8,000 15,.200 8.200 Year 3