Black Bear Construction Company has a contract to construct a $6,000,000 bridge at an estimated cost of $5,300,000. The contract is to start in July 2017, and the bridge is to be completed in October 2019. The following data pertain to the construction period.

Costs to date 2017: $1,325,000 2018: $3,780,000 2019: $5,430,000 Estimated costs to complete 2017:3,975,000 2018: $1,620,000 2019: $0

What is the percentage of contract completed by 2018?