7. On January 1, 2017, Spartan Company signed a $240 million contract with the City of Amherst to construct a new city hall. Spartan expects to construct the building within two years and incur total expenses of $180 million. Spartan incurred $72 million in construction costs during 2017 and the remaining $108 million in 2018. Using the percentage-of-completion method, how much revenue should Spartan recognize in 2017?