Exercise $6-24($Static$)$ Long$-$term contract; revenue recognition over time; solve for unknowns $[$LO$6-9]$

In $2024,$ Long Construction Corporation began construction work under a three$-$year contract. The contract price is $$1,600,000.$ Long recognizes revenue over time according to percentage of completion for financlal reporting purposes. The financlal statement presentation relating to this contract at December $31,2024,$ is as follows:Required:

What was the cost of construction actually Incurred in $2024?$

How much cash was collected in $2024$ on this contract?

What was the estimated cost to complete as of the end of $2024?$

What was the estimated percentage of completion used to calculate revenue in $2024?$

Note: Round your percentage answer to $2$ decimal places.

$\backslash$table$[[1.$ Actual costs incurred in $2024,,],[2.$ Cash collections in $2024,,],[3.$ Estimated cost to complete,,$],[4.$ Estimated percentage,,$]]$