Question: Please explain why. I saw someone already posted this question and the answer was 920,000 and another person said the answer is 0. I am

Please explain why. I saw someone already posted this question and thePlease explain why. I saw someone already posted this question and the answer was 920,000 and another person said the answer is 0. I am confused, please help.

Question 9 10 pts Cooper Construction Company had a contract starting April 2021, to construct a $24,000,000 building that is expected to be completed in September 2023, at an estimated cost of $22,000,000. At the end of 2021, the costs to date were $10,120,000 and the estimated total costs to complete had not changed. The progress billings during 2021 were $4,800,000 and the cash collected during 2021 was 3,200,000. Cooper uses the percentage-of-completion method. For the year ended December 31, 2021, Cooper would recognize gross profit on the building of: $843,333 $920,000 $1,080,000 $0

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