A client's portfolio with a beta of 1.50 is worth $1 million. The S&P 500 price changes from $2,000 to $1,800. The price on the S&P 500 futures (each contract is on $50 times the index) changes from $2,400 to $2,100. What is the dollar value of gains/losses made on futures using the hedging strategy. (Calculate only the amount gained or lost through the change in the futures price)