Suppose the current price of gold is $1,200 an ounce. Hotshot Consultants advises you that gold prices will increase at an average rate of 10% for the next three years. After that the growth rate will fall to a long-run trend of 2% per year. What is the price of one thousand ounces of gold produced in 10 years? Assume that gold prices have a beta of 0 and that the risk-free rate is 4%.