A company will use $33\%$ debt, $10\%$ preferred equity and $57\%$ common equity for funding a $$4,200,000$ project. The firm has negotiated bank loan with a limit of $$623,000.$ At what level of total funding will the bank loan be exhausted?

$$1\mathrm{.}888$ million

$$1\mathrm{.}498$ million

$$1\mathrm{.}545$ million

$$1\mathrm{.}654$ million

none of these