Question: Brief Exercise 18-6 X Your answer is incorrect. Try again. Blossom Corp. enters into a contract with a customer to build an apartment building for

Brief Exercise 18-6 X Your answer is incorrect. Try again. Blossom

Brief Exercise 18-6 X Your answer is incorrect. Try again. Blossom Corp. enters into a contract with a customer to build an apartment building for $1,040,800. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $161,700 to be paid if the building is ready for rental beginning August 1, 2018. The bonus is reduced by $53,900 each week that completion is delayed. Blossom commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Probability 70 % Completed by August 1, 2018 August 8, 2018 August 15, 2018 After August 15, 2018 Determine the transaction price for this contract. Transaction Price

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