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QUESTION 3 6 points Save Answer Purple Construction Company enters into a contract with a customer to build a warehouse for $300,000, with a performance bonus of $150,000 that will be paid based on the timing of completion. The amount of the performance bonus decreases by 10% per week for every week beyond the agreed-upon completion date. The contract requirements are similar to contracts that Purple has performed previously, and management believes that such experience is predictive for this contract Management estimates that there is a 60% probability that the contract will be completed by the agreed-upon completion date, a 30% probability that it will be completed 1 week late, and only a 10% probability that it will be completed 2 weeks late. How should Purple account for this revenue arrangement? Show your computation. For the toolbar, press ALT+F10 (PC) or ALT-FN-F10 (Mad BI5 Paragraph Open Sans 10p EEA LIXO QF