A buyer approached you and expressed his interest in buying your firm. The buyer estimates that your firm is worth $10 million. However, your estimation of your firm's value is $12 million. Based on your knowledge, sales growth is most likely to be 12 percent per year, and you expect the EBITDA to sales ratio to be 10 percent. However, the buyer estimates that sales growth will be 10 percent and expects the EBITDA to sales ratio to be 8 percent. Both agree on a 6 percent discount rate, and your firm's sales for the current year is $55 million.

To bridge the gap between you and the buyer, both agree on an earnout plan with the following terms: You will get $5 million now plus an earnout. The earnout is based on your firm's EBITDA for the next three years.

The earnout contract is as follows: the earnout thresholds are $2 million, $4 million, and $6 million, respectively, for the first, second, and third years (i.e., you get paid all the EBITDA above the thresholds).

What is the offer's value from the seller's perspective? Give your answer without the $ sign and in Million