In 2021, Chicago Construction began work on a construction project with a contract price of $160 million to be received when the project is completed in 2023. During 2021, the company incurred $30 million of costs and estimates an additional $86 million of costs to complete the project. The company recognizes revenue over time for this project. In 2021, the company recognizes for this project: Multiple Choice $30.00 million loss $11.38 million gross profit No gross profit or loss $74.00 million loss on the project in 2021