Sheffield Corp. enters into a contract with a customer to build an apartment building for $1,190,000. The customer hopes to rent apartments at the beginning of the school year and offers a performance bonus of $132,000 to be paid if the building is ready for rental beginning August 1, 2020. The bonus is reduced by $44,000 each week that completion is delayed. Sheffield commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by Probability August 1, 2020 60 % August 8, 2020 20 August 15, 2020 15 After August 15, 2020 5 Determine the transaction price for this contract under IFRS. Transaction price $