Marin Corp. enters into a contract with a customer to build an apartment building for $987,800. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $157,500 to be paid if the building is ready for rental beginning August 1, 2018. The bonus is reduced by $52,500 each week that completion is delayed. Marin commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes:

Completed by		Probability
August 1, 2018		70	%
August 8, 2018		20
August 15, 2018		6
After August 15, 2018		4

Determine the transaction price for this contract.

Transaction Price

$