Question: TE Current Attempt in Progress Jeff Heun, president of Skysong Always, agrees to construct a concrete cart path at Dakota Golf Club, Skysong Always enters

 TE Current Attempt in Progress Jeff Heun, president of Skysong Always,

TE Current Attempt in Progress Jeff Heun, president of Skysong Always, agrees to construct a concrete cart path at Dakota Golf Club, Skysong Always enters into a contract with Dakota to construct the path for $222,000. In addition, as part of the contract, a performance bonus of $38,800 will be paid based on the timing of completion. The performance bonus will be paid fully if completed by the agreed-upon date. The performance bonus decreases by $9.700 per week for every week beyond the agreed-upon completion date. Jeff has been involved in a number of contracts that had performance bonuses as part of the agreement in the past. As a result, he is fairly confident that he will receive a good portion of the performance bonus. Jeff estimates, given the constraints of his schedule related to other jobs that there is 55% probability that he will complete the project on time. a 30% probability that he will be 1 week late, and a 15% probability that he will be 2 weeks late a (a) Your answer is incorrect. Determine the transaction price that Skysong Always should compute for this agreement Transaction Price $

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