Boeing, a U.S. aircraft company, needs to borrow EUR50 million for 10 years to invest in a logistic distribution network in Europe. Airbus, a European aircraft company, needs to borrow USD 10 million for 10 years to initiate an expansion project in the U.S. The current spot exchange rate is EUR 5/USD. The following table shows the borrowing costs these two companies face:

	Boeing	Airbus
Borrowing cost in USD	4.00%	5.50%
Borrowing cost in EUR	7.00%	8.00%

If Airbus is prepared to pay USD400,000 to Boeing, how much should Boeing pay Airbus so that both can enjoy equal potential cost-saving? EUR[E]. You must show your working from the perspective of Boeing only.