In January, 2018, Fox Co. signed a 2-year contract to build a bridge for the City of Philadelphia for $12,000,000. By the end of 2018, Fox incurred $3,000,000 of cost and determined that the remaining costs to complete were $6,375,000. During 2018, Fox billed $3,000,000 and collected $2,500,000. How much gross profit does Fox expect to recognize in 2019, the year the bridge should be delivered to the City ready to be opened for traffic, using completed contract method? $2,078,125 $1.785,000 $2,625,000 $0