3. GenX Promotions enters in a contract with a customer to deliver an asset by June 30, 2020 at an agreed price of $1,000,000. If the asset is delivered late a penalty of 1.5% of the agreed price is charged weekly. It is estimated that there is probability of 6/10 that the asset will be delivered on time; a probability of 30% that it will be delivered one week late and a probability of 10% that it will be delivered two weeks late. Calculate the estimated transaction price for this asset.

3. GenX Promotions enters in a contract with a customer to deliver an asset by June 30 , 2020 at an agreed price of $1,000,000. If the asset is delivered late a penalty of 1.5% of the agreed price is charged weekly. It is estimated that there is probability of 6/10 that the asset will be delivered on time; a probability of 30% that it will be delivered one week late and a probability of 10% that it will be delivered two weeks late. Calculate the estimated transaction price for this asset