Please answer the given financial question based on the context.
Context: the following shares were excluded from the calculation of average shares outstanding 2013 diluted as their effect was anti- dilutive ( shares in millions ) . .
||2018|2017|2016|
|mandatory convertible preferred stock|n/a|39|39|
|convertible notes|2014|14|14|
|stock options ( 1 )|9|11|13|
|stock awards|2014|7|8|
( 1 ) the average exercise price of options per share was $ 26.79 , $ 33.32 , and $ 26.93 for 2018 , 2017 , and 2016 , respectively . in 2017 , had arconic generated sufficient net income , 30 million , 14 million , 5 million , and 1 million potential shares of common stock related to the mandatory convertible preferred stock , convertible notes , stock awards , and stock options , respectively , would have been included in diluted average shares outstanding . the mandatory convertible preferred stock converted on october 2 , 2017 ( see note i ) . in 2016 , had arconic generated sufficient net income , 28 million , 10 million , 4 million , and 1 million potential shares of common stock related to the mandatory convertible preferred stock , convertible notes , stock awards , and stock options , respectively , would have been included in diluted average shares outstanding. .
Question: considering the average exercise price of options , what is the estimated total value of stock options in 2018 , in millions of dollars?


Answer: The answer is:241.11