A quality-control review flags the following point: a bid is $4,097,000 and bid security is 5 percent. What security amount is required?
Correct Answer
C) $204,850
The calculation gives $204,850 for the stated bid security. Other choices: the distractors come from omitting an adjustment, using the wrong rate, or applying a rounded shortcut for calculation item 235.
Why This Is the Correct Answer
The calculation gives $204,850 for the stated bid security. Other choices: the distractors come from omitting an adjustment, using the wrong rate, or applying a rounded shortcut for calculation item 235.
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