Venice Surf Co. expects to generate free cash flows (in $ millions) over the next three years of $1,485, $1,862, and $2,845. After three years the free cash flows are expected to grow indefinitely at an annual rate of 6%. Assuming a discount rate of 9%, what would be the terminal or horizon value of the cash flows occurring after the third year? That is, what would be the present value of all free cash flows occurring after the third year as of the end of the third year (beginning of the fourth year)? Present your answer to two decimal places (e.g., $20.00).