A pension fund's market risk manager is tasked with calculating the annual Value at Risk (VaR) for a diversified portfolio of investment securities. The portfolio currently holds a market value of USD 7,444,000. The manager has observed that the daily variance of the portfolio’s returns is 0.0002. It is assumed there are 250 trading days in a year, with the daily returns being independent, identically distributed, and following a normal distribution with a mean of zero. Based on this information, what is the projected 1-year VaR at the 95% confidence level?