Decision tree analysis shows a project to have several possible outcomes the best of which has an NPV of $$10$M calculated over a five year life. This best case path has an overall probability of occurring of $25\%.$ A real option is available at an initial cost of $$750,000$ which will add a single $$5$M cash inflow to this best case path at its end. The option doesn't have a significant effect on the project's risk. The company's cost of capital is $11\%.$ What is the option's value $($Rounded to the nearest $$1,000)?$