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QUESTION
You are reviewing a progress payment on a 2,500,000 contract with a 90% progress payment rate. The payment is for the total cost incurred to date of 2,000,000 and the total additional costs to compl
- You are reviewing a progress payment on a 2,500,000 contract with a 90% progress payment rate. The payment is for the total cost incurred to date of 2,000,000 and the total additional costs to complete of 1,000,000. The loss ratio factor is %83.3. Currently what is the maximum total progress payment amount that you can authorize? CON 200
