n October 1, Igor Karkaroff entered into a contract of one-month duration to build a flying ship for Durmstrang. Karkaroff is guaranteed to receive a base fee of $5,200 for his services in addition to a bonus depending on when the project is completed.

Durmstrang offered to pay an additional 25% of the base fee if the project finished 2 weeks early and 20% if the project finished a week early.

The probability of finishing 2 weeks early is 40% and the probability of finishing a week early is 50%.

What is the expected transaction price with variable consideration estimated as the expected value?