Lauv Co. entered a long term project in 2012 that continued through 2013. Lauv Co. presently has

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Question:

Lauv Co. entered a long term project in 2012 that continued through 2013. Lauv Co. presently has available dependable and reliable estimates. As of 2025, Daniel billed 2/5 of the total contract price. Additional info about the project:

Determine the:
A. Percentage of completion rate as of 2025
B. Gross profit (loss) for the year 2025