SkysongCorp. enters into a contract with a customer to build an apartment building for $947,600. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $162,900to be paid if the building is ready for rental beginning August 1, 2021. The bonus is reduced by $54,300each week that completion is delayed.Skysongcommonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes:

Completed by Probability

August 1, 2021 70%

August 8, 2021 20

August 15, 2021 4

After August 15, 2021 6

Determine the transaction price for this contract.

Transaction Price