Spohn Corporation is performing a cost-plus fixed-fee contract for services valued at $5 million for the Navy. The contract contains all required FAR and DFARS clauses.During contract performance, the contracting officer issues a change order to revise the statement of work. Within 30 days of receiving the change order, Spohn request an equitable adjustment in the estimated cost, fixed fee, and completion schedule due to his increased performance costs and delays that will result from the change.

Additionally, Spohn's assertion of increased performance costs and delays are found to be true.

Q; Pursuant to the FAR and DFARS clauses in the contract, which of the following is accurate?

1.The contracting officer is only required to adjust the estimated cost of contract

2.The contracting officer is required to adjust the estimated cost of the contract and the competition schedule, but not the amount of fixed fee

3.The contracting officer is required to adjust the estimated cost of the contract, the competition schedule, and the amount of fixed fee.

4.The contracting officer is not required to adjust any of the contract terms.