TGG Ltd currently has a bank loan outstanding that requires it to make annual payments of $1,000,000 at the end of each of the next three years. The bank has offered to allow TGG Ltd to skip making the next two payments and instead make one large payment at the end of the loans term in three years. If the interest rate on the loan is 6% p.a., compounded quarterly, the final payment that will make TGG Ltd indifferent between the two payment options is closest to?