A contract has $54,000 of retainage held on a completed phase. The owner releases 60 percent of that retainage. How much retainage remains held?
Correct Answer
D) $21,600
Released retainage is $54,000 x 60% = $32,400, so remaining retainage is $54,000 - $32,400 = $21,600. Other choices release half, report released retainage, or leave the full amount.
Why This Is the Correct Answer
Released retainage is $54,000 x 60% = $32,400, so remaining retainage is $54,000 - $32,400 = $21,600. Other choices release half, report released retainage, or leave the full amount.
Why the Other Options Are Wrong
Option A: $27,000
partial retainage release, choice a: $27,000 uses the wrong retainage base or stops before netting retainage; the.
Option B: $32,400
partial retainage release, choice c: $32,400 is wrong because $32,400 is only the retainage withheld, not the net payment.
Option C: $54,000
partial retainage release, choice d: $54,000 uses the wrong retainage base or stops before netting retainage; the.
Memory Technique
Store partial retainage release with its last math move; nearby answers are usually unfinished versions of $21,600.
Reference Hint
Open NASCLA Contractors Guide to Business, Law and Project Management, 14th Ed.; use the index entry or section for "Partial retainage release" to confirm that Released retainage is $54,000 x 60% = $32,400, so remaining retainage is $54,000 - $32,400 = $21,600.
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