In 2014, Indiana Incurred Costs of $58

In 2014, Indiana incurred costs of $58.5 million and estimated an additional $40.5 million in costs to complete the project. Using the percentage-of-completion method, Indiana:

A) Recognized $15 million gross profit on the project in 2014.
B) Recognized $13.5 million gross profit on the project in 2014.
C) Recognized $6 million gross profit on the project in 2014.
D) Recognized $1.5 million gross profit on the project in 2014.