13" Haft Construction Co. has consistently recognized income from long-term contracts as its construction obligations are being satisfied. On January 10, Year 1, Haft began work on a $3,000,000 construction contract to be completed in three years. The following data relate to the progress of the contract as of December 31, Year 2: Profit recognized at 12/31/Year 1 $300,000 Costs incurred 1/10/Year 1 through 12/31/Year 2 1,800,000 Estimated cost to complete 600,000 If Haft measures progress toward completion of its contract obligations using the cost-to-cost approach, what amount of gross profit should Haft report in its income statement for the year ended December 31, Year 2? A. $150,000 B. $300,000 C. $450,000 D. $600,000