Question: Assume the same information for 2 0 2 4 and 2 0 2 5 , but that as of year - end 2 0 2

Assume the same information for

2024

and

2025,

but that as of year

-

end

2025

the estimated cost to complete the office building is $

4, 950, 000 .

Citation recognizes revenue over time according to percentage of completion for its office building contracts. How much revenue related to this contract will Citation report in the

2025

income statement?

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