Boeing Company enters into a contract with a client to build a commercial airplane. The total contract
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Question:
Boeing Company enters into a contract with a client to build a commercial airplane. The total contract price is $100,000,000, and it's expected to take three years to complete. At the end of the third year, Boeing has incurred costs of $90,000,000, and the project is complete. How much revenue should Boeing recognize in the third year using the completed contract method?
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