Oriole Construction is constructing an office building under contract for Cannon Company and uses the percentage-of-completion method. The contract calls for progress billings and payments of $1700000 each quarter. The total contract price is $20400000 and Oriole estimates total costs of $17900000. Oriole estimates that the building will take 3 years to complete, and commences construction on January 2, 2021. At December 31, 2022, Oriole Construction estimates that it is 75% complete with the building; however, the estimate of total costs to be incurred has risen to $18150000 due to unanticipated price increases. Oriole Construction completes the remaining 25% of the building construction on December 31, 2023, as scheduled. At that time the total costs of construction are $18900000. What is the total amount of Revenue from Long-Term Contracts and Construction Expenses that Oriole will recognize for the year ended December 31, 2023?

Revenue

Expenses

$5100000

$ 5287500

$5100000

$ 4725000

$20400000

$18900000

$4725000

$ 4725000