Q$1.$ An Owner signed a contract with a general contractor to construct a project at a net value $($cost$)$ of $$900,000.$ The type of contract was Cost$-$plus. After the project completion, the total payment to the contractor $($Cost Plus$)$ was calculated at $$980,000.$ If the given percentages were provided at $15\%$ for the lst $$250,000$ and $9\%$ for the next $$250,000,$ what was the percentage used to the remaining balance? Assume the project was completed without any changes. Please show your calculations.

Answer:

$(25$ pt$.)$