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A construction company entered into a fixed price contract to build an office building for $20 million. Construction costs incurred during the first year were

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A construction company entered into a fixed price contract to build an office building for $20 million. Construction costs incurred during the first year were $6 milition, and estimated costs to complete at the end of the year were $9million. The building was completed during the second year Construction costs incurred during the second year were $10 million. How much revenue and gross profit or loss will the company recognize in the first and second year if it recognizes revenue upon contract compietion? Note: Enter your answers in whole dollars and not in millions (i.e. $4 million should be entered as $4,000,000), Leave no cells blank - be certain to enter " 0 " wherever required

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