We were hired as consultants with a corporation looking to assess their current level of debt policy. We estimate the corporation's unlevered value is $12 billion and the value of their debt, which is only in perpetual coupon bonds, is $7 billion. The corporation's tax rate is 25 percent (including all applicable taxes). The corporation has 10 million shares of stock outstanding with a current market price of $55 per share. If our best estimate of the corporation's bankruptcy costs is 25 percent of their unlevered value, what is the present value of the corporation's agency costs? Assume that financial markets are sufficiently efficient and the Trade-Off Theory of Capital Structure is correct. Enter your answer as billions of dollars, not dollars, rounded to the nearest 0.0001. E.g., enter 1,255,769,000 as 1.2558