If a contractor had an original contract price of $800,000, had already expended $210,000 in part performance, estimates that the cost of completion would be $625,000 and has already received $175,000 in progress payments, how much would that contractor be entitled to in damages if you were to use the reasonable cost of completion formula?
What will be an ideal response?
800,000 (contract price) – 625,000 (cost of completion) – 175,000 (progress
payments) = $0 net recovery
You might also like to view...
High-side pressure is affected by ________.
A) Refrigerant charge level B) Ambient temperature C) Fan clutch operation D) All of these
What does the B shown in Figure 7 represent?
a. Line B b. Plate B c. Welding procedure B d. Datum B e. None of the above
For the countries listed in the table below, calculate
a. The Life Expectancy Index
b. The Educational Index
c. The Income Index
d. The Human Development Index
What will be an ideal response?
?When inspecting valves from the valve body: Technician A says the edges of the spools should be damage-free but should not be sharp.Technician B says to identify a bent valve, install it into its bore and rotate it. If it binds or drags while it is being rotated, it is bent.Who is correct?
A. ?A only B. ?B only C. ?Both A and B D. ?Neither A nor B