Element Electronics (EE), a US company, regularly imports parts from Hitachi, a Japanese company. EE pays in yen, and the exchange rate has been approximately 108/$. The companies have agreed a risk-sharing contractual arrangement to share the burden of currency risk in the future. All purchases are made by EE at the current exchange rate, as long as the spot rate on the date of invoice is between 105/$ and 110/$. If the spot exchange rate falls outside this range, EE and Hitachi will share the difference equally. EE has an accounts payable for 10,000,000 yen for the month of April. The spot exchange rate on the date of invoice is 101/$ (the yen has appreciated relative to the dollar). What is EE's total cost for the April payable in US dollars?