11. Black Bear Construction Company has a contract to construct a $6,000,000 bridge at an estimated cost of $5,300,000. The contract is to start in July 2015, and the bridge is to be completed in October 2017. The following data pertain to the construction period. 2015 2016 2017 Costs to date $1,325,000 $3,780,000 $5,430,000 Estimated costs to complete 3,975,000 1,620,000 Progress billings during the year 1,200,000 3,200,000 1,600,000 Cash collected during the year 1,000,000 2,340,000 2,660,000 What amount of gross prot should Black Bear recognize in 2017r using the percentage-ofcompletion method? f." A $150,000 6 3, $169,000 1' (3. $210,000 f\" 11 $530,000