Carla Vista Construction Inc., which has a calendar year end, has entered into a non-cancellable fixed- price contract for $2.5 million beginning September 1, 2023, to build a road for a municipality. It has been estimated that the road construction will be complete by June 2025. The following data pertain to the construction period. 2023 2024 2025 Costs to date $784,000 $1,539,000 $2,100,000 Estimated costs to complete 1,456,000 1,026,000 0 Progress billings to date (non-refundable) 840,000 2,050,000 2,500,000 Cash collected to date 684,000 1,929,000 2,500,000 (c) Your answer is incorrect. Calculate the construction costs to be expensed in 2024. Construction costs $ eTextbook and Media. List of Accounts Save for Later Attempts: 3 of 5 used Submit Answer