QUESTION 28 Black Bear Construction Company has a contract to construct a $ 515.000 bridge at an estimated cost of 5 386.250 The contract is to start in July 2019, and the bridge is to be completed in October 2021. The following data pertain to the construction period (Note that by the end of 2019. Black Bear has revised the estimated total cost 2019 2020 Costs to date $ 115,785 $20.94 Estimated costs to complete 270375 121.669 Progress billings during the year 123,600 288400 Cash corected during the year 92.700 216300 What amount of gross profit should Black Bear recognize in 2020 using the percentage of completion method A $ 54,075 5.590,125 C538,625 0.5 37,965