Question: Google LLC enters into a contract with a client to develop a custom software solution. The total contract price is $20,000,000, and it's expected to

Google LLC enters into a contract with a client to develop a custom software solution. The total contract price is $20,000,000, and it's expected to take two years to complete. At the end of the first year, Google has incurred costs of $5,000,000 and estimates that 30% of the project is complete. How much revenue should Google recognize in the first year using the percentage of completion method?

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