Ying Yang Corp based in Singapore is expecting remittance of $250,000$ Singapore Dollars from goods they exported to Italy. They also have a commitment to pay $200,000$ Singapore dollars in one month. Yingyang estimates the standard deviation of monthly percentage changes of the Singapore Dollars to be $3$ percent over the last $40$ months. Assume that these percentage changes are normally distributed. Using the value$-$at$-$risk $($VaR$)$ method based on a $95$ percent confidence level, what is the maximum one$-$month loss in dollars if the expected percentage change of the Singapore Dollars during next month is $-2$ percent? Assume that the current spot rate of the Singapore Dollar $($before considering the maximum one$-$month loss$)$ is $$1\mathrm{.}23.$

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