On
June 15, 2013, Sanderson Construction entered into a long-term
construction contract to build a baseball stadium in Washington D.C. for
$220 million. The expected completion date is April 1 of 2015, just in
time for the 2015 baseball season. Costs incurred and estimated costs to
complete at year-end for the life of the contract are as follows ($ in
millions):
| 2013 | 2014 | 2015 | |||||||
| Costs incurred during the year | $ | 40 | $ | 80 | $ | 50 | |||
| Estimated costs to complete as of 12/31 | 120 | 60 | — | ||||||
| | |||||||||
Required:
