Q3. Penner Builders contracted to build a high-rise for $28,000,000. Construction began in 2015 and is expected to be completed in 2018. Data for 2015 and 2016 are: Costs incurred to date Estimated costs to complete 2015 $3,600,000 14,400,000 2016 $10,400,000 9,600,000 Penner uses the percentage-of-completion method. Instructions (a) How much gross profit should be reported for 2015? Show your computation. (b) How much gross profit should be reported for 2016