17.(1 points) Bramble Corp. enters into a contract with a customer to build an apartment...
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17.(1 points) Bramble Corp. enters into a contract with a customer to build an apartment building for $1,016,800. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $157,500 to be paid if the building is ready for rental beginning August 1, 2018. The bonus is reduced by $52,500 each week that completion is delayed. Bramble commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by August 1, 2018 August 8, 2018 August 15, 2018 After August 15, 2018 Probability 65 % 20 10 5 Determine the transaction price for this contract using probability-weighted estimation
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