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Assuming $5,000 indirect cost per month, and 12% markup. If the owner retains 9.4% of...

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Accounting

Assuming $5,000 indirect cost per month, and 12% markup. If the owner retains 9.4% of validated progress payments until the project is completed, and payments will be billed at the end of the month and will be received one month later. Leo construction also needs to pay the bank 1% per month for the amount of the overdraft at the end of the month. How much Leo Construction is expected to receive from owner at month 3?

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