In spring of this year, Parmac Engineering Company signed a $360 million contract with the city of Parkersburg, to construct a new city hall. Parmac expects to construct the building within two years and incur expenses of $270 million. The city of Parkersburg paid $90 million when the contract was signed, $180 million within the next six months, and the final $90 million exactly one year from the signing of the contract. Parmac incurred $108 million in costs during the year and the rest in the following year to complete the contract on time. Using the cost-to-cost method how much revenue should Parmac recognize in the current year?

Select one: a. None of these are correct. b. $162 million c. $90 million d. $270 million e. $144 million