j.p .
morgan chase & co .
/ 2003 annual report 65 the commercial specific loss component of the allowance was $ 917 million at december 31 , 2003 , a decrease of 43% ( 43 % ) from year-end 2002 .
the decrease was attributable to the improve- ment in the credit quality of the commercial loan portfolio , as well as the reduction in the size of the portfolio .
the commercial expected loss component of the allowance was $ 454 million at december 31 , 2003 , a decrease of 26% ( 26 % ) from year- end 2002 .
the decrease reflected an improvement in the average quality of the loan portfolio , as well as the improving credit envi- ronment , which affected inputs to the expected loss model .
the consumer expected loss component of the allowance was $ 2.3 billion at december 31 , 2003 , a decrease of 4% ( 4 % ) from year- end 2002 .
although the consumer managed loan portfolio increased by 10% ( 10 % ) , the businesses that drove the increase , home finance and auto finance , have collateralized products with lower expected loss rates .
the residual component of the allowance was $ 895 million at december 31 , 2003 .
the residual component , which incorpo- rates management's judgment , addresses uncertainties that are not considered in the formula-based commercial specific and expected components of the allowance for credit losses .
the $ 121 million increase addressed uncertainties in the eco- nomic environment and concentrations in the commercial loan portfolio that existed during the first half of 2003 .
in the sec- ond half of the year , as commercial credit quality continued to improve and the commercial allowance declined further , the residual component was reduced as well .
at december 31 , 2003 , the residual component represented approximately 20% ( 20 % ) of the total allowance for loan losses , within the firm 2019s target range of between 10% ( 10 % ) and 20% ( 20 % ) .
the firm anticipates that if the current positive trend in economic conditions and credit quality continues , the commercial and residual components will continue to be reduced .
lending-related commitments to provide for the risk of loss inherent in the credit-extension process , management also computes specific and expected loss components as well as a residual component for commercial lending 2013related commitments .
this is computed using a methodology similar to that used for the commercial loan port- folio , modified for expected maturities and probabilities of drawdown .
the allowance decreased by 11% ( 11 % ) to $ 324 million as of december 31 , 2003 , due to improvement in the criticized portion of the firm 2019s lending-related commitments .
credit costs .

For the year ended December 31
2003
2002
(in millions)
Commercial
Consumer
Residual
Total
Commercial
Consumer
Residual
Total
Provision for loan losses
$(30)
$1,491
$118
$1,579
$2,371
$1,589
$79
$4,039
Provision for lending-related commitments
(47)
—
8
(39)
309
—
(17)
292
Securitized credit losses
—
1,870
—
1,870
—
1,439
—
1,439
Total managed credit costs
$(77)
$3,361
$126
$3,410
$2,680
$3,028
$62
$5,770

.

Question: Analyse this data from a financial earnings document. what was the consumer expected loss allowance at 12/31/2002 , in billions?
Choices:
96
2.39583
0.10417
0.16028
9.2
Correct choice index: 1