An Ocean Transfer cargo ship was forced to jettison some cargo in a severe ocean storm. The various interests in the voyage at the time the property was jettisoned are the following: Value of the ship $4.0 million Value of iron ore $2.0 million Value of lumber and wood chips $2.0 million Assume the captain must jettison iron ore valued at $800,000. What is the amount that Ocean Transfer must pay under the principle of a general average loss? Explain your answer.