X Bank is a publicly traded company that reported $ 10 billion in revenues in the most recent fiscal year that ended on December 31. You are valuing the company in April and know that the company reported $ 3 billion in revenues for the first quarter, up from the $ 2 billion it reported in revenues in the same quarter of the previous year. In valuing X bank today, which of the following numbers would you use for your base year revenues, if you want an updated valuation?

Group of choices:

$ 10 billion

$ 9 billion

$ 11 billion

$ 13 billion