Blossom Construction Company uses the percentage-of-completion method. During 2018, the company entered into a fixed-price contract to construct a building for Sherman Company for $46100000. The following details pertain to the contract:

At December 31, 2018At December 31, 2019Percentage of completion30%65%Estimated total cost of contract$36950000$39900000Gross profit recognized to date23500003700000

The amount of construction costs incurred during 2019 was

$2950000.

$6800000.

$25935000.

$14850000.