Leo Consulting enters into a contract with Highgate University to restructure Highgate's processes for purchasing goods from suppliers. The conttact states that Leo will earn a fixed fee of $52,000 and earn an additional $10,000 if Highgate achieves $100,000 of cost savings. Leo estimates a 55% chance that Highgate will achieve $100,000 of cost savings Assuming that Leo determines the transaction price as the expected value of expected consideration, what transaction price wil Leo estimate for this contract? Knowieage uneck vi Which of the following statements about the definition of the word "probable" are true? (Select all that apply.) Check All That Apply IFRS defines "probable" as o likelihood that is greater than 25%. The IFRS definition of the word "probable" is higher than the definition in U.S. GAAP. The U.S. GAAP definition of the word "probable: implies a relatively high likelihood of occurrence. The IFRS definition of the word "proboble" is higher than the definition in U.S. GAAP. The US GAAP definition of the word "probable" implies a relatively high likelihood of occurcence. U.S. GAAP defines "probable" to mean an amount can reasonably be expected or believed on the besis of ovailobie evidence or logic but is neither certain nor proved