In 2023, Oriole Contractors began construction on an office building. The building was expected to cost $46,510,000 in total and was expected to be completed in early 2025. The customer was to pay Oriole $48,610,000 for the building. Oriole was able to use percentage-of-completion accounting for the project, and at the end of 2023 had accumulated $11,627,500 in cost. Oriole estimated that the costs to complete the construction were in line with the original expected total costs. During 2024, there was a lumber shortage, a strike by construction workers, and various other incidents that dramatically raised costs in the construction industry. As a result, at the end of 2024, Oriole estimated that the office building would cost an additional $4,530,000 more than originally estimated. To the end of 2024, Oriole had spent $38,790,400 on constructing the office building. (a1) Your answer is incorrect. Calculate the revenue to be recognized by Oriole for the 2024 fiscal year. Revenue to be recognized $ 24305000