Please help, thank you!

Tullis Construction enters into a long term fixed price contract to build an office tower for $10,100,000. In the first year of the contract Tullis incurs $2,900,000 of cost and the engineers determined that the remaining costs to complete the project are $5,100,000. Tullis billed $3,800,000 in year 1 and collected $3,500,000 by the end of the year. How much gross profit should Tullis recognize in Year 1 assuming the use of the percentage - of -completion method? (Round any intermediary percentages to the nearest hundredth percent, and round your final answer to the nearest dollar.) OA. SO OB. $761,250 O C. $6,561,250 O D. $3,661,250