Vermont Cabin Construction Company uses the percentage-of-completion method on a three-year project with the cost-to-cost method or measuring progress. Compute the percent completed and the amount or revenue and gross profit to be recognized for each year based on the following information.

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Contract pr ce $700,000 2018 2019 2020 Actual construction costs incurred dur ng the year Est mated total costs $160,000 $140,000 $130,000 $400.000 $360.000 $430,000