Use the following information for questions:
Streetside Construction agreed to build a shopping centre for $25,000,000 over the next four years.Estimated cost for years one through four are: $7,500,000; $5,000,000; $5,000,000; and $2,500,000.
-Estimated profit or loss for year one, assuming the percentage of completion method, would be:
A)$1,250,000)
B)$0
C)$1,250,000
D)$1,875,000

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The Answer of Use the following information for questions:
Streetside Construction agreed to build a shopping centre for $25,000,000 over the next four years.Estimated cost for years one through four are: $7,500,000; $5,000,000; $5,000,000; and $2,500,000.
-Estimated profit or loss for year one, assuming the percentage of completion method, would be:
A)$1,250,000)
B)$0
C)$1,250,000
D)$1,875,000

Use the Following Information for Questions