Miller Corp. enters into a contract with a customer to build an apartment building for $$1,079,000.$ The customer hopes to rent

apartments at the beginning of the school year and provides a performance bonus of $$153,000$ to be paid if the building is ready for

rental beginning August $1,2026.$ The bonus is reduced by $$51,000$ each week that completion is delayed. Miller commonly includes

these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes:

$($a$)$ Determine the transaction price for the contract, assuming Miller is only able to estimate whether the building can be completed by

August $1,2026,$ or not $($Miller estimates that there is a $70\%$ chance that the building will be completed by August $1,2026).$

Transaction price $

$($b$)$ Determine the transaction price for the contract, assuming Miller has limited information with which to develop a reliable estimate

of completion by the August $1,2026,$ deadline.