Ivanhoe, Inc. began work in 2021 on contract #3814, which provided for a contract price of $19650000. Other details follow: 2021 2022 Costs incurred during the year $3320000 $9980000 Estimated costs to complete, as of December 31 9780000 0 Billings during the year 3700000 15000000 Collections during the year 2500000 16200000 Assume that Ivanhoe uses the completed-contract method of accounting. The portion of the total gross profit to be recognized as income in 2022 is O $3700000. O $6350000. O $19650000. O $2500000