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[ The following information applies to the questions displayed below. ] In 2 0 2 4 , the Westgate Construction Company entered into a contract

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In 2024, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2026. Information related to the contract is as follows:
\table[[Cost incurred during the year,2024,2025,2026],[Estimated costs to complete as of year-end,$2,542,000,$3,772,000,$2,074,600
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