In spring 2012, Ouyang Inc. signed an $100 million contract with the city of Malvern to construct a new city hall. Ouyang Inc. expects to construct the building within two years and incur expenses of $40 million. The city of Malvern paid $30 million when the contract was signed, $30 million within the next six months, and the final $40 million exactly one year from the signing of the contract. Ouyang Inc. incurred $10 million in costs during 2012 and rest in 2013 to complete the contract on time. There was no delay of the delivery and Malvern was happy with the work provided by Ouyang Inc. The owner of Ouyang Inc. was nominated for the Hall of Fame of the city in 2013 accordingly.

Using the percentage-of-completion method, how much revenue should Ouyang Inc. recognize in 2013?