As part of the acquisition agreement, Beta Corp. agrees to pay the former shareholders of Gamma Corp. $3 in cash for every dollar of gross revenues above $50,000,000 reported by Gamma at the end of the first year following acquisition. Beta projects the following outcomes for the year:

Gross revenues	Probability
$40,000,000	0.10
$50,000,000	0.30
$60,000,000	0.25
$70,000,000	0.20
$80,000,000	0.15

Required: Using a 12 percent discount rate, what is the appropriate value to be reported as an earnings contingency liability on Beta’s books at the date of acquisition?