The incentive fee is designed as 26% of cash flow after an owner's priority return of 10% on investment; in this case $6.6 million - 10% of the assumed $66 million development budget. Assume the development costs are $70 million and the incentive fee is adjusted to reflect a larger owner's priority. Given this change, what is the cash value for the incentive fees?
a) $6,571,000
b) $5,815,000
c) $2,202,260
d) $947,000