Question 1: (7 marks) The contractor for your project has estimated their project expenses and made the following payment requests that you consider to be reasonable. A typical holdback of 10% is being used on the project payments. If you assume that it takes the contractor half of a month to submit their pay request and the payments are due half of a month after the request, calculate the payments to the contractor and the amount of working capital required by the contractor each month. After 6 months the project is complete; A) How much is the final payment? B) How much Profit did the contractor make? Contractor's Payment expenses Working Capital Required Month Request Holdback Payment 190,000 180,000 195,000 216,000 185,000 135,000 0 205,000 192,000 215,000 235,000 30,000 185,400 4 7 Final PMT