Sunland Biotech enters into a licensing agreement with Novak Pharmaceutical for a drug under development. Sunland will receive a payment of $$12,500,000$ if the drug receives regulatory approval. Based on prior experience in the drug$-$approval process, Sunland determines it is $80\%$ likely that the drug will gain approval and a $20\%$ chance of denial. $($a$)$ Determine the transaction price of the arrangement for Sunland Biotech. Transaction price $