Lewi Corp. enters into a contract with a customer to build an apartment building for $1,015,200....

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Lewi Corp. enters into a contract with a customer to build an apartment building for $1,015,200. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $159,900 to be paid if the building is ready for rental beginning August 1, 2026. The bonus is reduced by $53,300 each week that completion is delayed. Lewi commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by August 1, 2026 Probability 70 % August 8, 2026 20 August 15, 2026 After August 15, 2026 Determine the transaction price for this contract. Transaction price $ Lewi Corp. enters into a contract with a customer to build an apartment building for $1,015,200. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $159,900 to be paid if the building is ready for rental beginning August 1, 2026. The bonus is reduced by $53,300 each week that completion is delayed. Lewi commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by August 1, 2026 Probability 70 % August 8, 2026 20 August 15, 2026 After August 15, 2026 Determine the transaction price for this contract. Transaction price $