Question Description
DJT, Inc. is a commercial building contractor in Gotham. DJT entered into a contract with Gotham to construct a new school administration building. The cost of the administration building is $200 million. The project is to be completed by December 31, 2019. In addition, the contract has an incentive clause which, if the project is completed by July 1, 2019,DJT could be paid an additional $25 million.
As a requirement of the contract, DJT purchases a performance bond to secure its performance if it should fail to complete the project. The performance bond requires two equal payments of
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