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6. An estimate for a project comes to a cost of $5 million, the profit is being set at $600,000 with a maximum and minimum

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6. An estimate for a project comes to a cost of $5 million, the profit is being set at $600,000 with a maximum and minimum fee (profit) of $800,000 and $450,000. A sharing arrangement of 80/20 is negotiated. This arrangement is known as a cost plus incentive fee (CPIF). Find the supplier's profit and the buyer's cost for a final cost of 10% above the estimate

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