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 Customer Billing 240,000 360,000 Cash Received from Clients 200,000 400,000 Assuming Since Tonka uses the completed contract method, how much will the 2021 gross profit be related to this project?

a $ 45,000

b. $ 120,000

c $ 80,000

d 75,000