On October 2019, assume that Aravos Company agreed to build an office building. The contract price of $800 million is to be paid as follows: $300 million at the time of signing; $200 million on December 31, 2109; and $300 million at completion in July 2020. Aravos Co incurred the following costs in constructing the building; $240 million in 2019, and $360 million in 2020. Compute the gross profit for Aravos for 2019 assuming that its performance obligation is fulfilled over time and that the costs it incurs are reflective of the value conveyed.