3 points 10. Craven Cowardly Co. uses the percentage of completion to account for its fixed price construction contracts. On December 31, 2012, Craven has the following information regarding one of its construction projects which started in 2011. Which of the following is most likely the contract price? * Percentage of completion Profit for the year Construction in Progress 2011 ? ? 3,000,000 2012 75% ? 6,000,000 A. P12,000,000 B. P8,000,000 C. P4,000,000 D. P9,000,000