The“All Faiths” church is building a new church for $2 million on land acquired several years ago. The contractor estimates the cost at $1.3 million and the project is to be completed over a 2-year period with the payments split evenly between the 2 years. During the first year, the total costs incurred were $700000. During the second year the contractor experienced cost overruns and costs incurred were $1.0 million. Using the percentage-ofcompletion method, how much revenue and income should the contractor recognize in the second year of the project?（     ）