You are required to value a development site using the DCF approach. You anticipate the development will show the following cash flows:

Year $1,($$$6,198,070)$ negative

Year $2,($$$2,533,855)$ negative

Year $3,$$$15,234,248$

Year $4,$$$8,199,950$

Adopting a discount rate of $25\%,$ what is the maximum amount you would offer for the site?

NOTE: Round your answer to the nearest whole dollar.