Please help me understand how to approach this problem. the numbers have been altered to avoid any violations. all of these questions are connected. thank you

USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (3)QUESTIONS:

During Year 1,Sparky Construction Company has a contract to construct a $4,500,000high-rise apartment building at an estimated cost of $4,000,000.The contract is to startin July of Year 1 and the high-rise apartment building is to be completed in October of Year 3.The following data pertain to the construction period (Note:by the end of Year 2, Sparky has revisedthe estimated total cost from $4,000,000 to $4,050,000)