Question: Google Cloud Platform (GCP) has signed a four-year contract with a client for cloud computing solutions, with a total contract value of $60,000,000. An upfront

Google Cloud Platform (GCP) has signed a four-year contract with a client for cloud computing solutions, with a total contract value of $60,000,000. An upfront payment of $15,000,000 was received at the beginning of the contract. During the first year, GCP completed 55% of the project milestones. Determine The revenue recognized for the first year under the percentage-of-completion method.

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