1. In 2006, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2008. Information related to the contract is as follows: 2006 2007 2008 Costs incurred during the year Budget Invoices sent 2,400,000 3,600,000 2,200,000 8,000,000 8,000,000 2,000,000 4,000,000 4,000,000 1,800,000 3,600,000 4,000,000 Payments received tries for 2006, 2007 a of-completion method. (check figure: % of completion in 2007-75.00%)