You have been asked to analyze the value of an oil company with substantial oil reserves. The estimated reserves amount to 11,000,000 barrels and the estimated present value of the development cost for each barrel is $12. The current price of oil is $18.8 per barrel and the average production cost is estimated to be $5 per barrel. The company has the rights to these reserves for the next fifteen years and the 15-year bond rate is 6%. The company also proposes to extract 3% of its reserves each year to meet cashflow needs. The annualized standard deviation in the price of the oil is 20%. What is the value of this oil company? The value is $ x. (Round your answer to full integer. Omit the '$' sign in your response.)