Suppose the current price of gold is $1,240 an ounce. Hotshot Consultants advises you that gold prices will increase at an average rate of 14% for the next two years. After that the growth rate will fall to a long-run trend of 2% per year. Assume that gold prices have a beta of 0 and that the risk-free rate is 6%. What is the present value of 1.2 million ounces of gold produced in 10 years? (Do not round intermediate calculations. Enter your answer in billions rounded to 2 decimal places.)