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In 2021, Blossom Corporation began construction work under a three-year contract. The contract price is $9200000. Blossom uses the percentage-of-completion method for financial accounting purposes. The income to be recognized each year is based on the proportion of costs incurred to total estimated costs for completing the contract. The financial statement presentations relating to this contract at December 31,2021 , follow: Incemestatement Income (before tax) on the contract recognized in 2021 What was the initial estimated total income before tax on this contract? What was the initial estimated total income before tax on this contract? $1150000 $1540000 $1220000 $1840000