An analyst working for a boutique investment bank is working on an estimated offering price for the upcoming IPO of Zacktronics, Inc., a small privately held company. The analyst has the data presented in the table below for two reasonably good publicly traded proxy firms. Using the average values for the two proxy firm's multiples, estimate the price at which Zactronics' common stock should trade if it's EPS is $3\mathrm{.}31.$

Report your answer in dollars and cents $($rounded to two decimal places$).$

$\backslash$table$[[$Proxy Firm,P$/$E Ratio$],[$Abertronix$,15\mathrm{.}8],[$Guntroniks$,14\mathrm{.}8]]$

Answer: