Swifty Biotech enters into a licensing agreement with Pang Pharmaceutical for a drug under development. Swifty will receive a payment of $8,900,000 if the drug receives regulatory approval. Based on prior experience in the drug-approval process, Swifty determines it is 80% likely that the drug will gain approval and a 20% chance of denial. Collapse question part (a) Determine the transaction price of the arrangement for Swifty Biotech. Transaction price $