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Monty Corp.enters into a contract with a customer to build an apartment building for $1.040,800. The customer hopes to rent apartments at the beginning of

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Monty Corp.enters into a contract with a customer to build an apartment building for $1.040,800. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $161,700 to be paid if the building is ready for rental beginning August 1, 2021. The bonus is reduced by $53,900 each week that completion is delayed. Monty commonly includes these completion bonuses in its contracts and based on prior experience, estimates the following completion outcomes. Completed by August 1, 2021 August 8, 2021 August 15, 2021 After August 15, 2021 Probability 7096 20 5 5 Determine the transaction price for this con contract. Transaction Price 5

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