MBTS Finance Co$.$ reached an agreement with its creditors to voluntarily liquidate its assets and use the proceeds to pay off as much of its liabilities as possible. The firm anticipates that it will be able to sell off its assets in an orderly fashion, realizing as much as $70\%$ of the book value of its receivables, $40\%$ of its inventory, and $25\%$ of its net fixed assets $($excluding land$).$ However, the firm believes that the land on which it is located can be sold for $120\%$ of book value. The firm has legal and professional expenses associated with the liquidation process of $$2\mathrm{.}9$ million. The firm has only common stock outstanding. Using the table below, estimate the amount of cash that would remain for the firm$$s common shareholders once all assets have been liquidated.

Balance Sheet Item Book Value of Assets $($$$)$ Liquidation Value

Cash $10$

Accounts Receivable $20$

Inventory $15$

Net Fixed Assets Excluding Land $8$

Land $6$

Total Assets $59$

Total Liabilities $35$

Shareholder$$s Equity $24$