Mill Construction Co. uses the percentage-of- completion method of accounting. During Year 1, Mill contracted to build an apartment complex for Drew for $20,000,000. Mill estimated that total costs would amount to $16,000,000 over the period of construction. In connection with this contract, Mill incurred $2,000,000 of construction costs during Year 1. Mill billed and collected $3,000,000 from Drew in Year 1. What amount should Mill recognize as gross profit for Year 1? A. $375,000 B. $600,000 C. $500,000 D