Answer / Vandana

A Material Recovery Statement (MRS) is prepared to account for the materials recovered or reused in a project. To prepare an MRS, follow these steps:n1. Identify the recovered materials and their quantities.n2. Calculate the cost of each material based on its purchase price or estimated replacement cost.n3. Prepare a statement detailing the recovered materials, their costs, and any associated savings for the project.n4. Deduct the MRS amount from the contractor's bill.

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