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Business, 05.05.2021 01:00 BeautyxQueen

Marle Construction enters into a contract with a customer to build a warehouse for $950,000 on March 30, 2018 with a performance bonus of $50,000 if the building is completed by July 31, 2018. The bonus is reduced by $10,000 each week that completion is delayed. Marle commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by Probability
31-Jul-18 65%
7-Aug-18 25%
14-Aug-18 5%
21-Aug-18 5%

Required:
Determine the amount of the transaction price.

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