You are in process of evaluating and selecting one of two contractors for a project that includes a penalty of $1,000 for everyday delay. Below are the main details: First contractor: new with bid value is $110,000. There is a 50% chance that this contractor will be 90 days late. Second contractor: worked with before and gave a bid of $140,000. There is a 10% chance of being by 30 days late. Which would you select and why? 27