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Swifty Corp.enters into a contract with a customer to build an apartment building for $921,300. The customer hopes to rent apartments at the beginning of

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Swifty Corp.enters into a contract with a customer to build an apartment building for $921,300. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $156,000 to be paid if the building is ready for rental beginning August 1, 2018. The bonus is reduced by $52,000 each week that completion is delayed. Swifty commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by Probability August 1, 2018 70 % August 8, 2018 August 15, 2018 After August 15, 2018 Determine the transaction price for this contract. Transaction Price $

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