Based on the below transaction, what is the 2 amount of contracts payable-retained percentage after transaction 5 Capital Projects Fund A capital projects fund issued $5,000,000, 4.1 percent bonds for $5,050,000 to finance improvements of a park. Premiums received are to be used to service the debt issue The Parks and Recreation Special Revenue 2 Fund transferred $250,000 for use in construction A construction contract was awarded in the 3 amount of $5,200,000 A bill was received from the contractor for 4 $2,600,000 The contractor's bill is paid, and 5% .5 retainage is withheld The park renovations were completed and .6 the final bill of $2,600,000 was received. The contractor's bill and retainages are approved for payment in full. Total construction expenditures were allocated as follows: $5,000,000 to building, and the remainder to 5 * .equipment 3 (3 )