Rearden Metal imports minerals from South America. Rearden Metal is worried that the South American mines may enter into a long-term contract with the Chinese to sell all of their minerals output to China, hence cutting off Rearden Metal's supply. In the event of such a contract with the Chinese, Rearden Metal will face much higher costs for its raw materials causing its operating profits to decline substantially. An insurance firm has agreed to write a trade insurance policy that will pay Rearden Metal $2,500,000 in the event of the South American supply of minerals being cut off. The chance of the South American supply being cut off is estimated to be 20%, with a beta of -2.0. The risk-free rate of interest is 4% and the return on the market is estimated to be 12%. What is the actuarially fair premium for this insurance policy?