Paul Inc is negotiating to buy Timothy Inc, and has made a bid of $8 million, which the directors of Timothy have rejected.

Paul is therefore considering an earn-out arrangement, as follows.

If the average annual sales revenue of Timothy over the next three years exceeds $10 million, additional consideration will be payable at the end of that period, at the following rates:

10% of revenues if revenues are over $10 million, up to $12 million

12% of revenues if revenues are over $12 million, up to $14 million

15% of revenues if revenues are over $14 million, up to a maximum of $20 million

It is estimated that the probabilities associated with these performance levels are 0.25, 0.2 and 0.1 respectively.

Compute the maximum amount of consideration Paul will have to pay. (in number format)