After the revised drawing is issued, approved work to date is $2,029,500; retainage is 10 percent and prior payments are $1,043,000. What current payment is due?
Correct Answer
A) $783,550
The calculation gives $783,550 for the stated current payment. Other choices: the distractors come from omitting an adjustment, using the wrong rate, or applying a rounded shortcut for calculation item 301.
Why This Is the Correct Answer
The calculation gives $783,550 for the stated current payment.
Why the Other Options Are Wrong
Option B: $705,195
current payment, choice a: $705,195 omits a required add-on/subtraction; the numeric gap is $78,355.
Option C: $861,905
current payment, choice b: $861,905 adds an extra unstated add-on/subtraction; the numeric gap is $78,355.
Option D: $979,437
current payment, choice d: $979,437 backs into 0.48 when divided by $2,029,500; the accepted setup gives 0.39 on that same base.
Memory Technique
Store current payment with its last math move; nearby answers are usually unfinished versions of $783,550.
Reference Hint
Open NASCLA Contractors Guide to Business, Law and Project Management, 14th Ed.; use the index entry or section for "current payment calculation" to confirm that The calculation gives $783,550 for the stated current payment.
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