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6. The Best Building company has a contract to build a building for $100 million. The
estimate of the cost of the project is $75 million. In the first year of the project, Best
Building had costs of $30 million. Calculate the Best Building company’s reported profit
for the first year of the contract, using the percentage – of – completion method?
=> reported profit = 30/75*(100 – 75) = $10