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8. A construction company is negotiating on a construc- tion project with a six-month duration. On the last day of each month the construction company
8. A construction company is negotiating on a construc- tion project with a six-month duration. On the last day of each month the construction company may bill the owner for the work completed during the month. The owner pays the monthly bills one month after they are received. The owner also holds 5% retention. Final payment is expected one month after completion of the project and includes payment of the retention. The con- struction company pays material suppliers in full when it receives payment from the owner. The construction
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