On April $15,2019,$Kelvin Construction contracted to build a YMCA at a contract price of $$250$ million. The project is expected to take $3$ years. The schedule of expected $($which equals actual$)$ cash collections and contract direct costs $($excluding SG&A$)$ below. Calculate the answers to the questions below using the Cost to Cost method of revenue recognition.

Year Cash Collections Cost Incurred

$1$ $$100$ million $$80$ million

$2120$ million $60$ million

$330$ million $60$ million

Total $$250$ million $$200$ million

What is the Gross Margin for the Project?

What is the Revenue for Year $1$

What is the Gross Profit for Year $1$

What is the Gross Margin for Year $1$

What is the Revenue for Year $2$

What is the Gross Profit for Year $2$

What is the Gross Margin for Year $2$

What is the Revenue for Year $3$

What is the Gross Profit for Year $3$

What is the Gross Margin for Year $3$