Crane Construction Company had a contract starting April 2021, to construct a $23900000 building that is expected to be completed in September 2023, at an estimated cost of $21900000. At the end of 2021 , the costs to date were $9855000 and the estimated total costs to complete had not changed. The progress billings during 2021 were $4700000 and the cash collected during 2021 was 3190000. Crane uses the percentage-of-completion method. For the year ended December 31, 2021, Crane would recognize gross profit on the building of: $900000 50 . $824686. $12045000