ABC Corp began work in fiscal year 20X0 on a contract priced at $1,098,746. Actual costs incurred in fiscal years 20x0 and 20x1 were $474,657 and $294,461 respectively. At the end of 20x0, the estimated costs to complete the contract were $316,437 in 20X1. The billings made in 20X0 were $369,176, while the collections in 20X0 were $263,699. If the company uses the percentage-of-completion method for long-term contracts, what should be the gross profit recognized for this contract in 20x0? a $189,206 O b. $175,362 Oc $184,591 O d. $179,977 O e $170,747