According to FAR 15.401, what is defined as the price plus any applicable fee or profit for a contract?

The correct choice is identified as "Price." In the context of FAR 15.401, "price" encompasses the total amount to be paid under a contract, which includes not only the base price of the goods or services being provided but also any applicable fee or profit that the contractor expects to earn. This definition is critical for ensuring that all financial aspects of a contract are clearly understood and accounted for during the negotiation and approval processes.

When analyzing the other options, "Cost" refers to the actual expenses incurred by the contractor in delivering the goods or services, excluding any profit or fee. "Rate" typically pertains to a unit measure used in determining payments, such as hourly rates or per unit costs, which do not specifically relate to the overall price that includes profit. "Valuation" relates more to the process of determining the worth or value of something and is not synonymous with the financial total involved in a contract. Understanding these distinctions helps clarify why "Price" is the most accurate term in this context.