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Blossom, Inc. began work in 2 0 2 4 on contract # 3 8 1 4 , which provided for a contract price of $

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Blossom, Inc. began work in 2024 on contract #3814, which provided for a contract price of $16275000. Other details follow:
Assume that Blossom uses the cost-recovery method of accounting. Total gross profit to be recognized as income in 2025 is
$2950000.
$16275000.
$5225000.
$1750000.
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