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Riverbed Corp. enters into a contract with a customer to build an apartment building for $$1,079,000.$ The customer hopes to rent apartments at the beginning of the school

year and provides a performance bonus of $$153,000$ to be paid if the building is ready for rental beginning August $1,2021.$ The bonus is reduced by $$51,000$ each week that

completion is delayed. Riverbed commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion

outcomes:

$($a$)$ Determine the transaction price for the contract, assuming Riverbed is only able to estimate whether the building can be completed by August $1,2021,$ or not $($Riverbed

estimates that there is a $70\%$ chance that the building will be completed by August $1,2021).($If answer is $0,$ please enter $0.$ Do not leave any fields blank.$)$

Transaction Price $

$($b$)$ Determine the transaction price for the contract, assuming Riverbed has limited information with which to develop a reliable estimate of completion by the August $1,$

$2021,$ deadline.

Transaction Price $

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