You are building a portfolio for a client. This portfolio will consist of two mutual funds and an investment in the risk-free asset. You want the total portfolio for your client to have a beta of 0.80. The beta of the first mutual fund is 1.17 the beta of the second fund is 1.39. The client has $1,000,000, and will invest $406,888 in the second fund and the remainder of the monies will be invested in the risk-free asset. Given this information how much money should be invested into the the first fund to meet the objectives of the portfolio? Answer as dollars and cents.