Gutierrez Company is constructing a building. Construction began in 2015 and the building was completed 12/31/15. Gutierrez made payments to the construction company of $1,500,000 on 7/1, $3,300,000 on 9/1, and $3,000,000 on 12/31. Average accumulated expenditures were

Select one:

a. $4,800,000.

b. $1,850,000.

c. $1,575,000.

d. $7,800,000.