Jettison Contractors signed a long-term construction contract to build a music cathedral for $40,000,000. During the current year, $10,000,000 in costs were incurred of an estimated total cost of $32,000,000 to build the stadium. 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 Ob. $40,000,000 O c. $2,000,000 O d. $10,000,000