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6- In year 1, the Ace company signs a contract to build a road for the state of Maryland for $25 million. During year 1

6- In year 1, the Ace company signs a contract to build a road for the state of Maryland for $25 million. During year 1 , Ace spends $4 million and expects the job to require $16 million to finish. During year 2 , Ace spends an additional $7. If percentage of completion method is being applied, what mount of profit will Ace recognize in Year 2

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