You are the project loan monitor for a 100,000 sf office building project in Toronto. The total cost of development is $400 per square foot. The lender is committing a loan to the project at a loan-to-cost ratio of 82.5%. The project is 30% complete and the borrower makes the first progress draw request. You have determined that the holdback retained to date is $1,000,000. There are no holdbacks released. What would be the draw advance for this draw request, using the Cost-to-Complete method?