Williams Corp. enters into a contract with a customer to build an apartment building for $810,000. The customer hopes to rent apartments at the beginning of the school year and offers a performance bonus of $141,000 to be paid if the building is ready for rental beginning August 1, 2023. The bonus is reduced by $47,000 each week that completion is delayed. Williams commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by Probability August 1, 2023 72 % August 8, 2023 20 August 15, 2023 3 After August 15, 2023 5 (a) (b) Your answer is correct. Determine the transaction price for this contract, assuming Williams is only able to estimate whether the building can be completed by August 1, 2023, or not. (Williams estimates that there is a 72% chance that the building will be completed by August 1, 2023.) Transaction price eTextbook and Media Your answer is incorrect. 951000 Assistance Used Attempts: 2 of 3 used Determine the transaction price for this contract, assuming Williams has limited information with which to develop a reliable estimate of completion by the August 1, 2023 deadline. Transaction price $