TropiKana Inc., a U.S. firm, has just borrowed 1,000,000 to make improvements to an Italian fruit plantation and processing plant. If the Euro interest rate is 6.50% per year and the Euro depreciates against the dollar from $1.05/ at the time the loan was made to $1.00/ at the end of the first year, what is the (before tax) dollar cost of loan if the firm repays the entire loan plus interest (rounded)?