20) Gleason Construction enters into a long-term fixed price contract to build an office building for $20,000,000. In the first year of the contract Gleason incurs $6,000,000 of cost and the engineers determined that the remaining costs to complete are 15000,000. How much gross profit or loss should Gleason recognize in Year 1 assuming the use of the percentage-of completion method? A) $1,000,000 profit B)$1,000,000 loss C) $0 D) $285,714 loss