at the beginning of 2009 florida road construction entered into a contract to build 1556960

At the beginning of 2009, Florida Road Construction entered into a contract to build a road for the government. Construction will take four years. Th e following information as of 31 December 2009 is available for the contract:

Assume that the company estimates percentage complete based on costs incurred as a percentage of total estimated costs. Under the completed contract method, how much revenue will be reported in 2009?

A. None.

B. $300,000.

C. $1,500,000.