A manager is holding a bond portfolio worth $5 million with a modified duration of 8 years. She would like to hedge the risk of the portfolio by short-selling Treasury bonds. The modified duration of T-bonds is 10 years. How many dollars worth of T-bonds should she sell to minimize the variance of her position? (Enter your answer in dollars not millions rounded to the nearest dollar value.)

Dollars' worth of T-bonds to be sold: