Carefree Rentals (CR) is building a luxury condominium for a contract price of $58,000,000. This is estimated to be a three-year project with an estimated cost of $47,000,000. CR uses the percentage-of-completion method of revenue recognition, using the cost-to-cost method of estimating the percentage complete. The following is the best available information at the end of each year: (Click the icon to review the contract data.)