Indiana Co began a construction project in 2021 wth contract price of 50 milion to be received when the project is completed in 2001. During 2021 Indiana incurred $40 million of costs and states and S on of costs to complete the red recog e over time and for this project recognizes revenue over time according to the percentage of the project that has been completed Suppose that in 2022, Indiana incurred additional costs of 566 million and estimated an additional S o n costs to complete the project Indiana (Do not round your percentage calculated Miple Choice O Recognized $10 million loss on the project in 2022 Recognized $13 milion gross profit on the project in 2022 O Recognized $3.00 million loss on the project in 2022 o Recognized $10 million gross profit on the project in 2022