Consider a portfolio comprising a $3 million investment in Outlook and a $5 million in Russel Computing. Assume the standard deviations of the return on shares are .4 and .25 per cent per annum respectively. Assume the correlation between the returns on the shares is .7. Assume a 1% chance of abnormally bad market conditions. Calculate the value at risk of the portfolio, showing you workings. State any assumptions you make in your calculations.