Question: Anwar Developers has a contract to build a building for BDT100,000 with an estimated time to completion of three years. A reliable cost estimate for

Anwar Developers has a contract to build a building for BDT100,000 with an estimated time to completion of three years. A reliable cost estimate for the project is BDT60,000. In the first year of the project, Anwar incurred costs totaling BDT24,000. How much profit should Anwar report at the end of the first year under the percentage-of-completion method?

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