Leo Consulting enters into a contract with Highgate University to restructure Highgates processes for purchasing goods from suppliers. The contract states that Leo will earn a fixed fee of $36,000 and earn an additional $7,000 if Highgate achieves $70,000 of cost savings. Leo estimates a 50% chance that Highgate will achieve $70,000 of cost savings.

Assuming that Leo determines the transaction price as the expected value of expected consideration, what transaction price will Leo estimate for this contract?