Colleges and universities in Country A offering graduate degrees enjoyed double-digit growth for nearly a decade, particularly from applicants of Country B. But applications from these students declined 5 percent for the last academic year, dropping the overall graduate-school application growth rate from foreign students to just 1 percent. This has schools that offer business, engineering, life sciences, and physical and earth sciences graduate degrees wondering how they will fill their classrooms. A bright spot is applications from Country C, which increased 24 percent because of a push by the its government to boost advanced degrees from Country A schools. Many schools in Country A are wondering if this market is worthy of more marketing efforts to replace the lost applicants from Country B. Develop a market potential estimation of this market.

Assume that there are approximately 27,500,000 citizens of Country C in the age 25-34. Only 15% of the 25-34 year old age group already have graduate degrees and are not in the schools' target market. Among the remaining 25-34 year old age group 69% can be considered as potential students because they completed at least upper secondary education. Also assume the average price for education in Country A is $180 thousand (for all years required to obtain a degree) and students will only earn one degree.

The number of buyers in the market is 16,128,750 (Round to the nearest whole number.)

The market demand is $__________ billion.