OBJ construction company enters into a contract to construct an office building for a customer on the customer$-$owned land for promised consideration of $$1\mathrm{.}5$ million and a bonus of $$400,000$ if the building is completed within $24$ months. Upon careful assessment, OBJ estimates the cost to complete the building to be $$900,000.$ OBJ has experience with such construction projects in that area and concludes that it is highly probable that it will complete the building in two years $(24$ months$).$

a$.$ Does OBJ have a single performance obligation or multiple performance obligations?

b$.$ What should OBJ record as the transaction price at the inception of the contract?