Gleason Construction enters into a long-term fixed price contract to build an office building for $24,000,000. In the first year of the contract Gleason incurs $5,000,000 of cost and the engineers determined that the remaining costs to complete are $14,000,000. How much gross profit or loss should Gleason recognize in Year 1 assuming the use of the completed - contract method? XA. $208,333 loss B. $5,000,000 loss C. $0 profit D. $2,500,000 profit