Noyes Construction Corporation contracted to construct a building for $4,500,000. Construction began in 2016 and was completed in 2017. Data relating to the contract are summarized below: 7. Year ended December 31 2016 2017 Costs incurred Estimated costs to complete $1,800,000 $1,350,000 1,200,000 Noyes assumes the performance obligation is satisfied over time. What amount of gross profit should Hayes report for 2016? a. SO b. $675,000 c. $810,000 d. $900,000 Page 2 of 4