JJF Development is planning to build a new high-rise apartment complex on the Sunshine Coast. It will be highly profitable for the company if the project receives government approval. However, the shadow cast by the proposed high-rise will completely cover the swimming pool and sunbathing area of the nearby Elizabeth Hotel in shade from 1pm onwards. Therefore, the owners of the Elizabeth Hotel believe that the development will make their hotel a less desirable destination for holidaymakers, and will impact the profitability of the company. They instead want JJF to build only a low-rise development, as this will not impact them at all. Their respective benefits are shown below: Gains to Elizabeth Hotel (Smillion) Gains to JJF (Smillion) Total (Smillion) Low Rise is Constructed 400 300 700 High Rise is Constructed 157 900 Coming to an agreement regarding the construction of the proposed development involves the use of very expensive lawyers. What is the maximum amount that could be spent on negotiations and still have the high-rise development as the more beneficial option by $1million? Assume that the gains shown in the table (for both the Elizabeth Hotel and JJF) remain constant if these negotiations occur. Give your answer to the nearest whole number (in $million, with no decimal places, $ sign, spaces or commas). JJF Development is planning to build a new high-rise apartment complex on the Sunshine Coast. It will be highly profitable for the company if the project receives government approval. However, the shadow cast by the proposed high-rise will completely cover the swimming pool and sunbathing area of the nearby Elizabeth Hotel in shade from 1pm onwards. Therefore, the owners of the Elizabeth Hotel believe that the development will make their hotel a less desirable destination for holidaymakers, and will impact the profitability of the company. They instead want JJF to build only a low-rise development, as this will not impact them at all. Their respective benefits are shown below: Gains to Elizabeth Hotel (Smillion) Gains to JJF (Smillion) Total (Smillion) Low Rise is Constructed 400 300 700 High Rise is Constructed 157 900 Coming to an agreement regarding the construction of the proposed development involves the use of very expensive lawyers. What is the maximum amount that could be spent on negotiations and still have the high-rise development as the more beneficial option by $1million? Assume that the gains shown in the table (for both the Elizabeth Hotel and JJF) remain constant if these negotiations occur. Give your answer to the nearest whole number (in $million, with no decimal places, $ sign, spaces or commas). JJF Development is planning to build a new high-rise apartment complex on the Sunshine Coast. It will be highly profitable for the company if the project receives government approval. However, the shadow cast by the proposed high-rise will completely cover the swimming pool and sunbathing area of the nearby Elizabeth Hotel in shade from 1pm onwards. Therefore, the owners of the Elizabeth Hotel believe that the development will make their hotel a less desirable destination for holidaymakers, and will impact the profitability of the company. They instead want JJF to build only a low-rise development, as this will not impact them at all. Their respective benefits are shown below: Gains to Elizabeth Hotel (Smillion) Gains to JJF (Smillion) Total (Smillion) Low Rise is Constructed 400 300 700 High Rise is Constructed 157 900 Coming to an agreement regarding the construction of the proposed development involves the use of very expensive lawyers. What is the maximum amount that could be spent on negotiations and still have the high-rise development as the more beneficial option by $1million? Assume that the gains shown in the table (for both the Elizabeth Hotel and JJF) remain constant if these negotiations occur. Give your answer to the nearest whole number (in $million, with no decimal places, $ sign, spaces or commas).