Assume that Cullumber Construction Company has a non$-$cancellable contract to construct a $$4,600,000$ bridge at an estimated cost

of $$4,140,000.$ The contract is to start in July $2023,$ and the bridge is to be completed in October $2025.$ The following data pertain to

the construction period. Assume that progress billings are non$-$refundable.

The revised estimates for the bridge contract are as follows.

$($a$1)$

Your answer is incorrect.

Under the percentage$-$of$-$completion method, calculate the total loss in $2024.$

Total loss in $2024$