Phantom Fireworks entered into a contract with Opera Entertainment to develop a new firework. Phantom will receive $8,000,000 if the firework is available by July 1, $6,000,000 if the firework is available by July 15, and $4,000,000 if the firework is available by July 31. Based on past experience with this process, Phantom determines that it is 60% likely that the firework will be available by July 1, 25% likely by July 15. and 15% likely by July 31. Phantom decides to use the expected value method in this situation. The transaction price for this contract should be O $6.900.000. $8.000.000 O $6.600.000 $0 until approval is received