As part of the acquisition agreement, Akron Corporation agrees to pay the former shareholders of Cleveland Company $0.75 in cash for every dollar of gross revenues above $8,800,000 reported at the end of the first year following acquisition. Akron projects the following gross revenues outcomes for the year: Gross revenues Probability $5,600,000 0.10 7,200,000 0.20 8,900,000 0.30 10,400,000 0.25 12,000,000 0.15 Using a 7 percent discount rate, what is the appropriate value to be reported as an earnings contingency liability on Akron's books at the date of acquisition? Round your answer to the nearest whole number.