Carla Vista Construction Company had a contract starting April $2024,$ to construct a $$37000000$ building that is expected to be completed in September $2025,$ at an estimated cost of $$34000000.$ At the end of $2024,$ the costs to date were $$15640000$ and the estimated total costs to complete had not changed. The progress billings during $2024$ were $$8300000$ and the cash collected during $2024$ was $$5550000.$ Carla Vista uses the percentage$-$of$-$completion method. For the year ended December $31,2024,$ Carla Vista would recognize gross profit on the building of

$$1268108.$

$$2750000.$

$$0.$

$$1380000.$