Question: An Architect has a design services contract with an Owner with a fee based upon the percentage of construction costs method. Related to this note
An Architect has a design services contract with an Owner with a fee based upon the percentage of construction costs method. Related to this note the following:
a. Owner's cost of buying the property, $1,000,000;
b. Contractor's cost of labor, materials and equipment, $900,000.00;
c. Contractor's overhead and profit, $100,000;
d. Architect's additional services, $100,000; and
e. Architect's fee percentage, 10%.
Based on the foregoing, what is the architect's fee?
Group of answer choices
a)$100,000
b)$200,000
$c)210,000
d)None of the above
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
