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Arab Construction Company began work in 2021 on contract XXXX, which provided for a contract price of E19,200,000. Other details follow: 301 202 Assume that

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Arab Construction Company began work in 2021 on contract XXXX, which provided for a contract price of E19,200,000. Other details follow: 301 202 Assume that Arab uses the percentage-of-completion method of accounting. The portion of the total gross profit to be recognized as income in 2021 is B. (1,600,000. C. 64,800,000. D. 66,400,000

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