Problem
In 2021, Cupid Construction Co. (CCC) began work on a two-year fixed price contract project. CCC recognizes revenue over time according to percentage of completion for this contract, and provides the following information (dollars in millions:
Accounts receivable, 12/31/2021 (from construction progress billings)
Actual construction costs incurred in 2021
Cash collected on project during 2021
Construction in progress, 12/31/2021
Estimated percentage of completion during 2021
§ 37.5
§ 125
§ 105
§ 207
50 %
What are CC's estimated remaining construction costs on the project at the end of 2021?