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QUESTION
On March 1, 2012, Chance Company entered into a contract to build an apartment building. It is estimated that the building will cost $2,158,000 and...
On March 1, 2012, Chance Company entered into a contract to build an apartment building. It is estimated that the building will cost $2,158,000 and will take 3 years to complete. The contract price was $3,428,000. The following information pertains to the construction period.
