You are a credit manager for Second Bank of Terlingua. Your bank is considering a loan to Arti Choke, a property developer in Terlingua. The structure of the loan is such that Arti would agree to pay back $11 million per year for 9 years, with the first payment in one year. Given the risk of Artis company, you think that the appropriate interest rate should be 16% per year, compounded annually. Given this rate and the structure of the loan, how much should your bank lend to Arti?