A construction company entered into a fixed-price contract to build an office building for $28 million. Construction costs incurred during the first year were $4 million and estimated costs to complete at the end of this year were $11 million. The company recognizes revenue over time according to percentage of completion. Calculate the gross profit or loss that will appear in the company's income statement in the first year of the contract. (Please round answer to one decimal place excluding the millions, i.e. $16.66 million should be entered as 16.7)