Show Attempt History Current Attempt in Progress On August 1, 2021, Swifty Uniforms Ltd. entered into a contract with Branch Health Clinic to provide 600 medical uniforms, terms 2/20, n/45, FOB shipping point. The uniforms sell for $70 each and cost Swifty Uniforms $37 each. Swifty's stated return policy is 20 days from the date of sale. The uniforms were shipped on September 15, 2021. Swifty's management uses the contract-based approach for revenue recognition and the expected value method to estimate variable consideration. The following information has been provided by Swifty's management: 1. Returns are 5% of sales 70% of the time and 15% of sales 30% of the time. 2. Branch Health Clinic pays within the discount period 70% of the time. (b) Calculate the transaction price for this contract. (Hint: Calculate the expected value of the returns first and the expected value of the sales discounts second.) (Round answer to O decimal places, eg. 5,125.) Transaction price