In 2021, Long Construction Corporation began construction work under a three-year contract. The contract price is $3,400,000. Long recognizes revenue over time according to percentage of completion for financial reporting purposes. The financial staternent presentation relating to this contract at December 31,2021 , is as follows: Required: 1. What was the cost of construction actually incurred in 2021 ? 2. How much cash was collected in 2021 on this contract? 3. What was the estimated cost to complete as of the end of 2021 ? 4. What was the estimated percentage of completion used to calculate revenuefin 2021 ? (Round your percentage answer to 2 decimal places.) Required: 1. What was the cost of construction actually incurred in 2021 ? 2. How much cash was collected in 2021 on this contract? 3. What was the estimated cost to complete as of the end of 2021 ? 4. What was the estimated percentage of completion used to calculate revenue in 2021 ? (Round your percentage answer to 2 decimal pleces.)