2. Bruner Constructors, Inc. has consistently used the percentage-of-completion method of recognizing income. In 2014, Bruner started work on a $42,000,000 construction contract that was completed in 2015. The following information was taken from Bruner's 2014 accounting records:

Progress billings $13,200,000

Costs incurred 12,600,000

Collections 8,400,000

Estimated costs to complete 25,200,000

What amount of gross profit should Bruner have recognized in 2014 on this contract? SHOW work please!

a. $4,200,000

b. $2,800,000

c. $2,100,000

d. $1,400,000