Cullumber Construction Company uses the percentage-of-completion method of accounting. In 2021, Cullumber began work on a contract it had received which provided for a contract price of $49500000. Other details follow: 2021 Costs incurred during the year $22800000 Estimated costs to complete as of December 31 16800000 Billings during the year 22500000 Collections during the year 10700000 What should be the gross profit recognized in 2021?

a.$1900000

b.$5700000

c.$26700000

d.$9900000