Greggs plc currently has a bank loan outstanding with HSBC. The payment plan for Greggs is three annual payments at the end of each year of 1,000,000 each. HSBC has discussed with the management team of Greggs about a plan to help them free up some cash for capital investment. HSBCs suggestion is to allow Greggs to skip making the next two payments in lieu of making one large payment at the end of the loan term in three years. If the interest rate on the loan is 5.5%, then the final payment that HSBC will require to make Greggs indifferent between the two forms of payments is closest to: