AAA has a contract to build a building for $100,000 with an estimated time to completion of three years. A reliable cost estimate for the project is $60,000. In the first year of the project, AAA incurred costs totaling $24,000. How much profit should AAA report at the end of the first year under the percentage-of-completion method and the completed-contract method?
　Percentage-of-completion　　Completed-contract

A.$16,000　　　　　　　　　　$0

B.$16,000　　　　　　　　　　$40,000

C.$40,000　　　　　　　　　　$0