A project will have an initial cost of $1 million and an upgrade cost of $300,000 in year five. The annual operating costs are expected to be $100,000. The savings are valued at $200,000 in years one through four, and $50,000 each year thereafter through the 10 year life of the project. If the savings are considered to be a benefit to the people, the B/C ratio at an interest rate of 6% per year is closest to: