Jet Black is an international conglomerate with a petroleum division and is currently competing in an auction to win the right to drill for crude oil on a large piece of land in one year. The current market price of crude oil is $126 per barrel and the land is believed to contain 534,000 barrels of oil. If found, the oil would cost $127 million to extract Treasury bills that mature in one year yield a continuously compounded interest rate of 6 percent and the standard deviation of the returns on the price of crude oil is 60 percent. Use the Black-Scholes model to calculate the maximum bid that the company should be wiling to make at the auction. (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.) Maximum bid