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In 2024, Sheridan Corp. started a construction job with a total contract price of $17500000. The job was completed on December 15, 2025. Additional

In 2024, Sheridan Corp. started a construction job with a total contract price of $17500000. The job was completed on December 15, 2025. Additional data are as follows: 2024 2025 Actual costs incurred during the year $7050000 $8100000 Estimated remaining costs 7050000 Billed to customer 6150000 12400000 Received from customer 4950000 13000000 Under the cost-recovery method, what amount of gross profit should Sheridan recognize for 2025? O $1175000 $783333 $2350000 $1450000

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