information about stock options at december 31 , 2007 follows: .

december 31 2007shares in thousandsrange of exercise prices
options outstanding shares
options outstanding weighted- averageexercise price
options outstanding weighted-average remaining contractual life ( in years )
options outstanding shares
weighted-averageexercise price
$ 37.43 2013 $ 46.99
1444
$ 43.05
4.0
1444
$ 43.05
47.00 2013 56.99
3634
53.43
5.4
3022
53.40
57.00 2013 66.99
3255
60.32
5.2
2569
58.96
67.00 2013 76.23
5993
73.03
5.5
3461
73.45
total
14326
$ 62.15
5.3
10496
$ 59.95

( a ) the weighted-average remaining contractual life was approximately 4.2 years .
at december 31 , 2007 , there were approximately 13788000 options in total that were vested and are expected to vest .
the weighted-average exercise price of such options was $ 62.07 per share , the weighted-average remaining contractual life was approximately 5.2 years , and the aggregate intrinsic value at december 31 , 2007 was approximately $ 92 million .
stock options granted in 2005 include options for 30000 shares that were granted to non-employee directors that year .
no such options were granted in 2006 or 2007 .
awards granted to non-employee directors in 2007 include 20944 deferred stock units awarded under the outside directors deferred stock unit plan .
a deferred stock unit is a phantom share of our common stock , which requires liability accounting treatment under sfas 123r until such awards are paid to the participants as cash .
as there are no vestings or service requirements on these awards , total compensation expense is recognized in full on all awarded units on the date of grant .
the weighted-average grant-date fair value of options granted in 2007 , 2006 and 2005 was $ 11.37 , $ 10.75 and $ 9.83 per option , respectively .
to determine stock-based compensation expense under sfas 123r , the grant-date fair value is applied to the options granted with a reduction made for estimated forfeitures .
at december 31 , 2006 and 2005 options for 10743000 and 13582000 shares of common stock , respectively , were exercisable at a weighted-average price of $ 58.38 and $ 56.58 , respectively .
the total intrinsic value of options exercised during 2007 , 2006 and 2005 was $ 52 million , $ 111 million and $ 31 million , respectively .
at december 31 , 2007 the aggregate intrinsic value of all options outstanding and exercisable was $ 94 million and $ 87 million , respectively .
cash received from option exercises under all incentive plans for 2007 , 2006 and 2005 was approximately $ 111 million , $ 233 million and $ 98 million , respectively .
the actual tax benefit realized for tax deduction purposes from option exercises under all incentive plans for 2007 , 2006 and 2005 was approximately $ 39 million , $ 82 million and $ 34 million , respectively .
there were no options granted in excess of market value in 2007 , 2006 or 2005 .
shares of common stock available during the next year for the granting of options and other awards under the incentive plans were 40116726 at december 31 , 2007 .
total shares of pnc common stock authorized for future issuance under equity compensation plans totaled 41787400 shares at december 31 , 2007 , which includes shares available for issuance under the incentive plans , the employee stock purchase plan as described below , and a director plan .
during 2007 , we issued approximately 2.1 million shares from treasury stock in connection with stock option exercise activity .
as with past exercise activity , we intend to utilize treasury stock for future stock option exercises .
as discussed in note 1 accounting policies , we adopted the fair value recognition provisions of sfas 123 prospectively to all employee awards including stock options granted , modified or settled after january 1 , 2003 .
as permitted under sfas 123 , we recognized compensation expense for stock options on a straight-line basis over the pro rata vesting period .
total compensation expense recognized related to pnc stock options in 2007 was $ 29 million compared with $ 31 million in 2006 and $ 29 million in 2005 .
pro forma effects a table is included in note 1 accounting policies that sets forth pro forma net income and basic and diluted earnings per share as if compensation expense had been recognized under sfas 123 and 123r , as amended , for stock options for 2005 .
for purposes of computing stock option expense and 2005 pro forma results , we estimated the fair value of stock options using the black-scholes option pricing model .
the model requires the use of numerous assumptions , many of which are very subjective .
therefore , the 2005 pro forma results are estimates of results of operations as if compensation expense had been recognized for all stock-based compensation awards and are not indicative of the impact on future periods. .

Question: what was the total intrinsic value of options exercised during 2007 , 2006 and 2005 in millions?
Answer: 194

Question: for the years ended december 31 , 2006 and 2005 what was the average weighted-average exercise price for options outstanding?
Answer: 57.48