Please compute the net income for Binder company for 2017 - 2019 using the cost-to-cost method.

5. Binder Corporation agreed to build a warehouse for a client at an agreed contract price of CP $4,000,000. Expected (and actual) costs for the warehouse follow: 2017, $640,000; 2018, $1,600,000; and 2019, $800,000. The company completed the warehouse in 2019. 1,000 000 Cosbe Compute net income for each year 2017 through 2019 using the cost-to-cost method. 2017/2018 2019 640,000 160,809.00 a. 2017: $200,000 b. 2017: $640,000 c. 2017: $0 d. 2017: $320,000 2018: $520,000 2018: $1,600,000 2018: $0 2018: $320,000 2019: $240,000 2019: $800,000 2019: $960,000 2019: $320,000 TE 3,040,000