On December 31 of the current year, State Construction Inc. signs a contract with the state of West Virginia Department of Transportation to manufacture a bridge over the New River. State Construction anticipates the construction will take three years. The companys accountants provide the following contract details relating to the project:

Contract price	$624	million
Estimated construction costs	$480	million
Estimated total profit	$144	million

During the three-year construction period, State Construction incurred costs as follows:

Year 1	$48	million
Year 2	$288	million
Year 3	$144	million

State Construction uses the cost-to-cost method to recognize revenue. Which of the following represent the revenue recognized in Year 1, Year 2, and Year 3?

Select one:

a. $62 million, $312 million, $250 million

b. $62 million, $374 million, $187 million

c. $0 million, $0 million, $624 million

d. $60 million, $376 million, $188 million

e. None of these are correct.