2. Mrs. Smith and her husband, Ralph, are planning their dream house. The lot for the house sits high on a hill with a beautiful view of the lake. The plans show the size of the house to be 3000 square feet. The average price of a lot and house similar to this one has been $150 per square foot. Fortunately, Ralph is a retired plumber and feels he can save money by installing the plumbing himself. Mrs. Smith she can take care of the interior decorating. The following average cost information is available from a local bank that makes loans to local contractors and disperses progress payments to contractors when specific tasks are verified as complete. Percent Description 24% Excavation and framing complete 8% Roof and fireplace complete 3% Wiring roughed in 5% Siding on 17% Windows, insulation, walks, plaster, and garage complete 9% Furnace installed 4% Plumbing fixtures installed 10% Exterior paint, light fixtures installed, finish hardware installed 6% Carpet and trim installed 4% Interior decorating 4% Floors laid and finished a. How much is the estimated cost of the house if they use contractors to complete all of the house? b. Estimate what the cost of the house if the Smith's use their talents to do some of the work themselves?

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