Winthur Incorporated owns and operates high-priced ski resorts in Europe. Winthur recently entered into a contract to provide lodging for several corporate events and conferences sponsored by PackCo for a total fee of $10,070,000. PackCo agreed to additional fees based on conference participant satisfaction surveys. The fee schedule and the related satisfaction survey scores are presented below. E (Click the icon to view the schedule.) Using past survey experience, Winthur estimates the probabilities that it will receive these scores on the PackCo participant surveys. B (Click the icon to view the probabilities.) Requirement Using the most-likely-amount approach for measuring variable consideration, determine the transaction price for this contract Determine the transaction price for the contract using the most likely-amount approach. The estimated transaction price for the contract using the most likely-amount approach is Average Score on Participant Satisfaction Additional Fee Survey $52,000 75% - 79% $308,000 80% - 84% $740,000 85% - 89% $965,000 90% - 100% id Average Score on Participant Probability Satisfaction Survey Assessment 75% - 79% 10 % 80% - 84% 12 % 85% - 89% 23 % 90% - 100% 55 %