In spring 2014, Parmac Engineering Company signed a $160 million contract with the city of Parkersburg, to construct a new city hall. Parmac expects to construct the building within two years and incur total expenses of $120 million. Parmac incurred $48 million in costs during 2014. The remaining $72 million in costs were incurred in 2015 to complete the contract. Using the cost-to-cost method how much revenue should Parmac recognize in 2014? $ 64 million None of the other answers. $ 40 million