During 2020 the Tonka Corp. began construction for which it will invoice a total of $ 600,000. The project will end on December 15, 2021. Additional information related to this project is presented below: 2020 2021 Costs incurred in the period $ 225,000 $ 255,000 Estimated costs to complete the project 225,000 0 Customer billing 240,000 360,000 Cash Received from Clients 200,000 400,000 Assuming Tonka uses the% completion method, what will the 2020 gross profit related to this project be?

a. $ 80,000

b. $ 45,000

c. $ 120,000

d. $ 75,000