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1. What is cost realism and what is its purpose? When should cost realism be used? 2. What is the most probable cost, how is

1. What is cost realism and what is its purpose? When should cost realism be used?

2. What is the most probable cost, how is it determined, and how is it used when awarding a cost reimbursement contract?

3. Specifically refer to GAO Decision B-259479.2, KPMG Peat Marwick, dated 9 May 1995 to explain how this case relates to cost realism.

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