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4. Thomas Consultants provided Bran Construction with assistance in implementing various cost savings initiatives. Thomas's contract specifies that it will receive a flat fee of $69,000 and an additional $39,000 if Bran reaches a prespecified target amount of cost savings Thomas estimates that there is a 25% chance that Bran will achieve the cost savings target Required: 1. Assuming Thomas uses the expected value as its estimate of variable consideration calculate the transaction price. 2. Assuming Thomas uses the most likely value as its estimate of variable consideration, calculate the transaction price 3. Assume Thomas uses the expected value as its estimate of variable consideration, but is very uncertain of that estimate due to a lack of experience with similar consulting arrangements Calculate the transaction price 5 points Book Hint Complete this question by entering your answers in the tabs below. AK References Reg 1 Reg 2 and 3 Assuming Thomas uses the expected value as its estimate of variable consideration, calculate the transaction price Possible Amount Probabilities Expected Amounts 1% Expected contract price at inception Requirea: 1. Assuming Thomas uses the expected value as its estimate of variable consideration, calculate the transaction price 2. Assuming Thomas uses the most likely value as its estimate of variable consideration calculate the transaction price, 3. Assume Thomas uses the expected value as its estimate of variable consideration, but is very uncertain of that estimate due lack of experience with similar consulting arrangements Calculate the transaction price. Complete this question by entering your answers in the tabs below. Req1 Reg 2 and 3 es Assuming Thomas uses the expected value as its estimate of variable consideration, calculate the transaction price. Possible Amount Probabilities Expected Amounts % % Expected contract price at inception Req 2 and 3 > Complete this question by entering your answers in the tobs below. Reg 1 Reg 2 and 3 OR 2. Assuming Thomas uses the most likely value as its estimate of variable consideration, calculate the transaction price. 3. Assume Thomas uses the expected value as its estimate of variable consideration, but is very uncertain of that estimate due to a lack of experience with similar consulting arrangements. Calculate the transaction price nt rences 2 Transaction price 3. Transaction price