On January 1, 20x7, Porter Inc. entered into a 3-year construction contract for $2506897. The actual and expected costs to complete the project as at each year-end are outlined in the table below. Dec 31, Dec 31, Dec 31, 20x7 20x8 20x9 $835375 $650,000 $600,000 Costs incurred during the year Expected costs to $1281062 $550,000 complete How much profit should Porter Inc. recognize in relation to this contract for the fiscal year 20x7? Select one: Oa. $1671522 Ob. $989493 Oc. $390460 Od. $154118 Check