Homework Answers
Answer: $ 2,84,850
| Determine the transaction price for this contract using the expected value approach. | |||
| Months | Amount($) | Probability | Amount * Probability($) |
| 1 Month | 7,000 | 24% | 1,680 |
| 2 Month | 5,000 | 55% | 2,750 |
| 3 Month | 2,000 | 21% | 420 |
| Expected value of additional receipt | 4,850 | ||
| Fixed component of transaction price | 2,80,000 | ||
| Transaction price for this contract using the expected value approach | $2,84,850 | ||
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