Robin Construction Company began a long-term contract in 2020. The contract price was $800,000. The estimated cost of the contract at the time it was begun was $500,000. The actual cost incurred in 2020 was $150,000. Under the percentage of completion method:

a. Robin should report $90,000 of income in 2020.

b. Robin should report $210,000 of income in 2020.

c. Robin should report $300,000 of income in 2020.

d. Robin should report $325,000 of income in 2020