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TE Current Attempt in Progress Jeff Heun, president of Skysong Always, agrees to construct a concrete cart path at Dakota Golf Club, Skysong Always enters

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TE Current Attempt in Progress Jeff Heun, president of Skysong Always, agrees to construct a concrete cart path at Dakota Golf Club, Skysong Always enters into a contract with Dakota to construct the path for $222,000. In addition, as part of the contract, a performance bonus of $38,800 will be paid based on the timing of completion. The performance bonus will be paid fully if completed by the agreed-upon date. The performance bonus decreases by $9.700 per week for every week beyond the agreed-upon completion date. Jeff has been involved in a number of contracts that had performance bonuses as part of the agreement in the past. As a result, he is fairly confident that he will receive a good portion of the performance bonus. Jeff estimates, given the constraints of his schedule related to other jobs that there is 55% probability that he will complete the project on time. a 30% probability that he will be 1 week late, and a 15% probability that he will be 2 weeks late a (a) Your answer is incorrect. Determine the transaction price that Skysong Always should compute for this agreement Transaction Price $

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