Formal way of saying "I'm on it" [closed]

Want to answer to my supervisor's question about the status of a task. What come's to my mind is "I'm on it". What's a more formal way of saying that?

Examples:

I'm about two-thirds of the way through the project.

It is my top priority at this time.

I'm working on other projects at the moment, but if you would like, I'll set them aside and focus on this task instead; just let me know.

I estimate I'll finish that task within the next two hours.

The more specific the update you can offer, the better the response will be received.

Here's one:

It's underway and should be done within (estimated time to completion).

un·der·way

adverb

having started and in progress; being done or carried out.

You could say I'm working on it as we speak.

As we speak: just now; at this very moment

TFD