Exercise $6-19($Algo$)$ Long$-$term contract; revenue recognition over time and at a point in time $[$LO$6-9]$

Assume Avaya contracted to provide a customer with Internet infrastructure for $$2,760,000.$ The project began in $2024$ and was completed in $2025.$ Data relating to the contract are summarized below:

$\backslash$table$[[$Costs incurred during the year,$2024,2025],[$Estimated costs to complete as of $12/31,$$$364,000,$$$2,175,000$