You are reviewing a Progress Payment Request on a $2,500,000 contract with a 90% progress payment rate. The payment request is for the Total Cost Incurred to Date of $2,000,000 and the Total Estimated Additional Cost to Complete of $1,000,000. The Loss Ratio Factor is 83.3%. Currently, what is the maximum total progress payment amount that you can authorize?

$2,812,500

$1,874,250

$1,606,500

$1,499,400