Gasworks, Inc., has been approached to sell up to 2.4 million gallons of gasoline in three months at a price of $2.40 per gallon. Gasoline is currently selling on the wholesale market at $2.20 per gallon and has a standard deviation of 58 percent. If the risk-free rate is 3.5 percent per year, what is the value of this option? Use the two-state model to value the real option. (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.)