On January 2, 2017, Ashley Banks Construction began work to build a hospital, expecting a three-year construction process. The contract price of the hospital was $2,600,000. During the three years of construction, the companys accounting team tracked the following actual costs and made estimates for remaining costs to complete the project at the end of each year: Year Accumulated Costs Incurred Estimated Costs to Complete 2017 $700,000 $1,200,000 2018 1,300,000 625,000 2019 1,850,000 0 How much Gross Profit would Ashley Banks recognize in 2018?

Select one: a. $492,105 b. $197,949 c. $257,895 d. $294,156