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At the start of 2006 your firm wins a 4-years building contract (in Mi): Total revenue $10; Total expected cost: $8. As of 12/31/06 the

At the start of 2006 your firm wins a 4-years building contract (in Mi): Total revenue $10; Total expected cost: $8. As of 12/31/06 the cost incurred during the year are $1.2. Under the percentage of completion method, how much revenue will be reported in 2006?

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