Red & Gold Corporation signs a contract at the beginning of 2020 to build a road for the government. Construction will take four years. The following information is available on the contract. Total revenue = $ 15,000,000 Expected construction cost per year: 2020 $2,000,000 2021 $3,500,000 2022 $3,500,000 2023 $3,000,000 If Red & Gold Corporation uses the percentage-of-completion method, then how much income does the company expect to report on the project in 2022? a. $875,000 b. $750,000 C. $675,000 d. $500,000 O e. None