The ABC engineering company entered into a contract to build a road for the government at the beginning of 2009. Assume the project will be completed in 4 years, the following information is available about the contract:
Total revenue
Total cost of project
Cost incurred during 2009
$15,000,000 $12,000,000 $2,000,000
College of Professional and Continuing Education (CPCE), an affiliate of PolyU
If the outcome of the project cannot be measured reliably, what is the revenue recognized during 2009?