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6. In 20x1, ABC Co. enters into a contact with a customer for the construction of a building. The contract price is PM. ABC Co. contract . uses the cost-to-cost method in measuring its progress on the ABC Co estimate total contract costs at completion PIM. ABC incurs actual costs of PIM in 20x1 In 20X2 ABC incurs actual costs of P245M and revi ABC completes the construction in 20x3 The actual to estimate of total contract costs at completion to PAM . . cost of the contract is P25M. How much is the profit recognized in 20x32 420,000 500,000 b.450,000 d. 550.000