Green Construction Co. has consistently used the percentage-of-completion method of recognizing revenue. During 2021, Green entered into a fixed-price contract to construct an office building for $28,000,000. Information relating to the contract is as follows: At December 31 2021 2022 Percentage of completion 15% 45% Estimated total cost at completion $21,000,000 $22,400,000 Gross profit recognized (cumulative) 1,400,000 3,360,000 Contract costs incurred during 2022 were