THIS Shows What is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 3 Franklin Construction entered into a fixed-price contract to build a freeway-connecting ramp for $20 million Construction costs incurred in the first year were $10 million and estimated remaining costs to complete at the end of the year were $11 million. How much gross profit or loss will Franklin recognize in the first year if it recognizes revenue over time according to percentage of completion method? (Enter your answer in millions.) ats Answer is complete but not entirely correct. $ Gross loss 1.476,191 million How much gross profit or loss will Franklin recognize in the first year applying the completed contract method? (Enter your answer in millions.) Answer is complete but not entirely correct. Gross profit $ 0 million Gaw