Price Index (for contracts).
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A $400,000 fixed price EPA contract contains a provision requiring an adjustment for 10% of the contract price based on changes in the index identified in the contract. That index at the time of contract award was 124.5. At the time of delivery the index was 132.0. What is the final contract price?
Adjustment = current index / base index = 124.5 / 132.0 = 0.943
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This solution calculates how to find the final contract price of a given problem.
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