Syco Company signed a long-term contract in 201 to build a hydroelectric plant for the lowa Power Company for $110,000,000. Syco initially estimated cost to be $90,000,000. Cost incurred each year and estimated cost to complete at the end of each year are as follows: Assume that 25% of the contract price is billed each year. Determine the amount reported in the balance sheet for Construction in Progress net of accumulated billings at 12/31/20x1