An analyst gathers the following information (in € millions) about a company's 4-year construction contract:

Contract price	106
Expected total costs	70
Actual costs incurred in Year 1	21
Bonus for on-time completion	8

Costs incurred are an appropriate measure of progress toward completion. The construction company is very experienced with similar contracts. If it is highly probable revenue will not be subsequently reversed, revenue (in € millions) recognized in Year 1 is most likely.