Question: Ace Builders begins construction on a building in January. Its contract specifies that the building must be complete by July 1 or it must pay

Ace Builders begins construction on a building in January. Its contract specifies that the building must be complete by July 1 or it must pay a penalty of $100 for each day the building is delayed. Ace Builders completes the building on July 31 and pays a penalty of $3,000.

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