Question: Current Attempt in Progress Crane Construction enters into a contract with a customer to build a warehouse for $830000 on March 30, 2021 with

Current Attempt in Progress Crane Construction enters into a contract with a

Current Attempt in Progress Crane Construction enters into a contract with a customer to build a warehouse for $830000 on March 30, 2021 with a performance bonus of $60000 if the building is completed by July 31, 2021. The bonus is reduced by $12000 each week that completion is delayed. Crane commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by Probability July 31, 2021 60% August 7, 2021 30% August 14, 2021 5% August 21, 2021 5% 14 The transaction price for this transaction is $883400 $551400 $830000 $539400

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