A On December 31, 2017, State Construction Inc. signs a contract with the state of West Virginia Department of Transportation to manufacture a bridge over the New River. State Construction anticipates the construction will take three years. The company's accountants provide the following contract details relating to the project: Contract price $780 million Estimated construction costs $600 million Estimated total profit $180 million During the three-year construction period, State Construction incurred costs as follows: 2018 $ 60 million 2019 $360 million 2020 $180 million State Construction uses the cost-to-cost method to recognize revenue. Calculate the revenue recognized in 2018, 2019, and 2020.
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