What Is the Fixed Contract Price for CCC's Project

What is the fixed contract price for CCC's project?

A) $120 million
B) $225 million
C) $345 million
D) None of these is correct Gross profit recognized in 2009 of $72 million = 60% of estimated gross project on the project.Therefore, total gross profit is estimated at $72 million/.6 = $120 million.Since Gross profit = Contract price Estimated total construction costs of $225 million, the Contract price = $120 million + $225 million = $345 million.