At the end of year 2, the accounting records for a multi-year construction project indicate actual costs incurred to date of $3,200,000, and the most recent estimate of total costs of $9,500,000. Assuming the percentage-of completion method is used, to one decimal, at the end of year 2 the project is

A )26.1% complete.

B) 25.2% complete.

C) 31.2% complete.

D) 33.7% complete.