Show calculations and explain.

Bruner Constructors, Inc. has consistently used the percentage-of-completion method of recognizing income. In 2015, Bruner started work on a dollar 42,000,000 construction contract that was completed in 2017. The following information was taken from Bruner's 2015 accounting records: Progress billings dollar 13, 200,000 Costs incurred 12, 600,000 Collections 8, 400,000 Estimated costs to complete 25, 200,000 What amount of gross profit should Bruner have recognized in 2015 on this contract