Haines Co. expects to receive 5 million euros tomorrow as a result of selling goods to Belgium.  Haines estimates the standard deviation of daily percentage changes of the euro to be 1 percent over the last 100 days.  Assume that these percentage changes are normally distributed.  Using the value-at-risk (VaR) method based on a 95% confidence level, what is the maximum one-day loss (in dollars) if the expected percentage change of the euro tomorrow is 0.5%?

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