Automia Construction Company contracted to build an apartment complex for a price of $10,000,000. Construction began...

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Automia Construction Company contracted to build an apartment complex for a price of $10,000,000. Construction began in Year 1 and was completed in Year 3. Below is a summary of the costs incurred and the estimated costs to complete by year. Year Costs Incurred Est Costs to Complete Year 1 3,000,000 6,000,000 Year 2 4,200,000 1,800,000 Year 3 1,800,000 What Gross Profit (Loss) would be recognized in Year 2, assuming that gross profit is recognized over time? Note: Please round percentages to four digits (e.g., 0.6666). Automia Construction Company contracted to build an apartment complex for a price of $10,000,000. Construction began in Year 1 and was completed in Year 3. Below is a summary of the costs incurred and the estimated costs to complete by year. Year Costs Incurred Est Costs to Complete Year 1 3,000,000 6,000,000 Year 2 4,200,000 1,800,000 Year 3 1,800,000 What Gross Profit (Loss) would be recognized in Year 2, assuming that gross profit is recognized over time? Note: Please round percentages to four digits (e.g., 0.6666).