Question: Precision Equipment, Inc.. specializes in designing and installing customized manufacturing equipment. On February 1, 2016, it signs a contract to design a fully automated wristwatch

Precision Equipment, Inc.. specializes in designing and installing customized manufacturing equipment. On February 1, 2016, it signs a contract to design a fully automated wristwatch assembly line for $2 million, which will be settled in cash upon completion of construction. Precision Equipment will install the equipment on the client's property, furnish it with a customized software package that is integral to operations, and provide consulting services that integrate the equipment with Precision's other assembly lines. How many performance obligations exist in this contract?

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