Nvidia started a construction project in $2024$ for a contract price of $$163$ million. The project will be completed in $2026.$ In $2024,$ the company

spent $$40$ million in costs and estimates an additional $$86$ million will incur to complete the project. Nvidia recognizes revenue over time. Nvidia:

Note: Do not round intermediate calculations. Present final answer in millions, to $2$ decimal places.

Multiple Choice

recognized $$11\mathrm{.}75$ million gross profit on the project in $2024.$

recognized $$77\mathrm{.}00$ million loss on the project in $2024.$

recognized $$40\mathrm{.}00$ million loss on the project in $2024.$

recognized no gross profit or loss on the project in $2024.$