Could I get some help on question and brief explanation on why its correct answer, please and thank you, if you could show your work it would be greatly appreciated

A builder enters into a contract with a customer to redesign and update an office buidling for an agreed upon contract price of $2,400,000 and construction is estimated to take three years at a total estimated cost of $2,000,000. Assuming costs may fluctuate over the 3-year construction period. Which statement is most accurate regarding revenue recognition for this contract? The builder should recognize revenue over time using the cost-to-cost (percentage of completion) method. The builder should wait to recognize revenue until the full construction is complete at the end of the three year period. The builder should recognize recognize revenue across the three year construction period as they collect cash payments. The builder should recognize all revenue for the contract at the start of construction when the contract is initially signed