You have the option to purchase 150,000 sqft of land in Ross County that has a FAR of 2 for the price of $5 million. Assume that your required return on cost is 10%. You believe the NOI of the property will be $5 per square foot with a 0% loss factor and development costs will be $20 per square foot. You think the market can easily absorb this development. What is the maximum you should be willing to pay for the land if the FAR is 20