Use the Following Information for Questions

Multiple Choice

Use the following information for questions:
Dudeck Construction Co.agreed to build a bridge for Genoa City.The contract specifies that construction will take three years and Dudeck will receive $12,500,000.The company expects annual costs to be $3,500,000; $2,750,000; and $1,800,000.
-Assume Dudeck uses the percentage of completion method.Profits for year one will be:

A) $ -0-
B) $ 1,483,333
C) $1,934,783
D) $ 4,450,000