To estimate the contract value, we need to calculate the total cost of the food fish supply. The contract lists the unit costs for each type of fish: Herring ($0.55/lb), Mackerel ($1.25/lb), Lake Smelt ($0.95/lb), and Capelin ($0.73/lb). The contract also lists the quantities for each type of fish: Herring (10,000 lbs), Mackerel (2,500 lbs), Lake Smelt (3,500 lbs), and Capelin (8,250 lbs). The total cost can be estimated as follows: Herring: 10,000 lbs * $0.55/lb = $5,500 Mackerel: 2,500 lbs * $1.25/lb = $3,125 Lake Smelt: 3,500 lbs * $0.95/lb = $3,325 Capelin: 8,250 lbs * $0.73/lb = $6,022.50 Total estimated contract value: $5,500 + $3,125 + $3,325 + $6,022.50 = $17,972.50 However, this calculation only accounts for the quantities listed in the contract and does not consider any potential additional costs or shipments. Therefore, the estimated contract value may be higher.