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 company's accountants provide the following contract details relating to the project: Contract Price $624 million Estimated construction cost $480 million Estimated total profit $144 million During the three-year construction period, State Construction incurred costs as follows: year 1 $48 on $28 mil Year 2 18 on $14 mill Year 3 14 on 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? O so million, 50 million, $624 million $62 million, $312 million, $250 million 0 $60 million, 1376 million, $188 million Click Save and Sub and sut Click See All Aven