Johnson Mining operates a silver mine in Nevada. Acquisition, exploration, and development costs totaled $5.7 million. After the silver is extracted in approximately five years, Smithson is obligated to restore the land to its original condition, including constructing a wildlife preserve. The companys controller has provided the following three cash flow possibilities for the restoration costs: (1) $400,000, 20% probability; (2) $550,000, 45% probability; and (3) $650,000, 35% probability. The companys credit-adjusted, risk-free rate of interest is 6%. Note: Please round your present value factor to the fifth place (for example, 0.XXXXX).

What is the initial capitalized cost of the silver mine?