Abrams Incorporated owns and operates high-priced ski resorts in Europe. Abrams recently entered into a contract to provide lodging for several corporate events and conferences sponsored by PowCo for a total fee of $10,070,000. PowCo agreed to additional fees based on conference participant satisfaction surveys. The fee schedule and the related satisfaction survey scores are presented below. Click the icon to view the schedule.) Using past survey experience, Abrams estimates the probabilities that it will receive these scores on the PowCo participant surveys E Click the icon to view the probabilities.) Requirement Using the most likely-amount approach for measuring variable consideration, determine the transaction price for this contract. Determine the transaction price for the contract using the most-likely-amount approach. The estimated transaction price for the contract using the most-likely-amount approach is Average Score on Participant Satisfaction Additional Fee Survey $54,000 75% - 79% $309,000 80% - 84% $750,000 85% - 89% $970,000 90% - 100% n Average Score on Participant Probability Satisfaction Survey Assessment 75% - 79% 11 % 80% - 84% 16 % 85% - 89% 22 % 90% - 100% 51 % Determine the transaction price for the contract using the most-likely-amount approach. The estimated transaction price for the contract using the most-likely-amount approach is