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Business, 13.03.2020 05:47 orangeicecream

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 $67,000 and an additional $37,000 if Bran reaches a prespecified target amount of cost savings. Thomas estimates that there is a 30% 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.

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