Hillier Construction Ltd commenced the construction of a building on 1 July 2013. It has a fixed-price contract for total revenues of $45 million. The expected completion date is 30 June 2016. The expected total cost to Hillier Construction at the beginning of the project is $35 million. The following information relates only to the construction of this building: Hillier Construction uses the percentage-of-completion method based on cost to account for its construction contracts. What is the gross profit to be recognised in year ending June 30 2014 (rounded to the nearest $000)? A. $12,500,000 B. $3,345,000 C. $3,571,000 D. $32,500,000