As part of the acquisition agreement, Alpha Corporation agrees to pay the former shareholders of Beta Company $3 in cash for every dollar of gross revenues above $40,000,000 reported by Beta at the end of the first year following acquisition. Alpha projects the following outcomes for the year:

Gross revenues	Probability
$30,000,000	0.10
$40,000,000	0.35
$50,000,000	0.25
$60,000,000	0.20
$70,000,000	0.10

Required: Using a 10 percent discount rate, what is the appropriate value to be reported as an earnings contingency liability on Alpha’s books at the date of acquisition?