ABC Development is actively considering a substantial apartment building project, encompassing 100,000 square feet of space. The comprehensive development cost for this project is projected to be $500 per square foot of Gross Floor Area (GFA). With an efficiency ratio of 80%, the company is well underway in their planning. Their market research indicates a promising gross rent of $75 per square foot, accounting for a 5% vacancy rate, a 5% capitalization (cap) rate, and 40% in operating expenses. To assess the project's viability, ABC Development now needs to estimate the potential development profit for this proposal. What is the estimated development profit for this proposal?