During 2020, Bing Corp. started a construction job with a total contract price of $1,050,000. Bing has consistently used the completed contract method. The job was completed on December 15, 2021. Additional data are as follows:

		2020		2021
Actual costs incurred		$405,000		$457,000
Estimated remaining costs		405,000
Billings to date		360,000		690,000
Collections to date		200,000		480,000

For 2020, what amount should Bing recognize as gross profit?

A) $120,000

B) $187,500

C) $0

D) $142,500