$1$ Axle Building Company had a contract starting April $2024,$ to construct a $$24,000,000$ building that is expected to be completed in September $2026,2$ at an estimated cost of $$22,000,000.$ At the end of $2024,$ the costs to date were $$10,120,000$ and the estimated total costs to complete had not changed.

$3$ The progress billings during $2024$ were $$4,800,000$ and the cash collected during $2024$ was $3,200,000.$ Axle uses the percentage$-$of$-$completion method.

$4$

For the year ended $\frac{12}{31}\frac{?}{24},$ Axle would recognize gross profit on the building of:

a$.$ $$843,333$

b$.$ $$920,000$

c$.$ $$1,080,000$

d$.$ $$0$