Franklin Construction entered into a fixed price contract to build a freeway-connecting ramp for $25 million. Construction costs incurred in the first year were $38 million and estimated remaining costs to complete at the end of the year were $22 million. Calculate the gross profit/(loss) that Franklin will recognize in the first year if it recognizes revenue over time according to percentage of completion. (Please input answer excluding the millions, i.e. $16 million should be entered as 16)