Cheyenne Corp. enters into a contract with a customer to build an apartment building for $1,210,000. The customer hopes to rent apartments at the beginning of the school year and offers a performance bonus of $149,000 to be paid if the building is ready for rental beginning August 1, 2020. The bonus is reduced by $49,667 each week that completion is delayed. Cheyenne commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes:

Completed by		Probability
August 1, 2020		70	%
August 8, 2020		20
August 15, 2020		5
After August 15, 2020		5