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Wilco Inc. uses the percentage of completion method to recognize revenues. In 2022, Wilco enters into a $21 million construction contract with Seminole Corporation. Wilco

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Wilco Inc. uses the percentage of completion method to recognize revenues. In 2022, Wilco enters into a $21 million construction contract with Seminole Corporation. Wilco expects construction will take 4 years to complete. On December 31, 2022, Wilco reports the following regarding the Seminole construction project: How much revenue should Wilco recognize on December 31,2022? $5,250,000 $20,000,000 Some other answer $3,500,000 $2,625,000

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