The determination of the transaction price for this contract for Nair Corp. is as follows:
Completed by Probability:
Date                             Probability         Bonus/Penalty       Outcome
August 1, 2015                  70%                 $150,000         $105,000 ($150,000 x 70%)
August 8, 2015                 20%                 $50,000             -10,000
August 15, 2015                 5%                  $50,000              -2,500
After August 15, 2015        5%                 $50,000              -2,500
Total expected value of performance bonus =           $135,000
Contract value = $1,000,000
Total transaction price = $1,135,000 ($1,000,000 + $135,000).
<h3>What is a transaction price?</h3>
A transaction price is the amount of consideration expected to be paid or received for the exchange of goods or services. 
A transaction price can vary based on timing or performance factors.
<h3>Data and Calculations:</h3>
Contract value = $1,000,000
Performance bonus = $150,000
Penalty per week in performance bonus = $50,000
The total transaction price is <u>$1,135,000</u>.
Learn more about contract transaction prices at brainly.com/question/984979