James Construction Inc. signed a long-term construction contract to build a dance studio for $50,000,000 During the current year, $10,000,000 in costs were incurred of an estimated total cost of $40,000,000 to build the studio. The amount of gross profit to be recognized in the current year if the percentage-of-completion method is employed is O a. $8,000,000 O b. $10,000,000 Oc: $12,500,000 d. $2,500,000 Clear my choice