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2. Boom Bang Connect Corporation enters a contract with a customer to build a customized machine for an agreed price of $1.75M. In the contract

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2. Boom Bang Connect Corporation enters a contract with a customer to build a customized machine for an agreed price of $1.75M. In the contract it was agreed that the machine would be delivered to the customer on December 31,2018 . The contract further states "... the supplier will incur a weekly penalty of 5% of the purchase price of the asset". The machine was delivered 6 weeks late. Calculate the transaction price of the machine

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