Seasons 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 $1,550,000 each quarter. The total contract price is $18 600 000 and Seasons estimates total costs of $17.750,000 Seasons estimates that the building will take 3 years to complete, and commences construction on January 2, 2021. At the end of 2022, estimated total costs were $18,000,000 Seasons Construction completes the remaining 25% of the building construction on December 31, 2023, as scheduled At that time the total costs of construction are $18,750,000. What is the total amount of Revenue from Long-Term Contracts and Construction Expenses that Seasons will recognize for the year ended December 31, 2023? Revenue = 54.687 500. Expense = $4,687 500 Revenue = 54 650.000 Expense = 55.250.000 Revenue = 54.650,000. Expense = $4.687500 Revenue = $18 600 000 Expense = $18.750,000