Energy Resources generated an EPS of $$2\mathrm{.}54$ over the last $12$ months. The company's earnings are expected to grow by $21\mathrm{.}8\%$ next year, and because there will be no significant change in the number of shares outstanding, EPS should grow at about the same rate. You feel the stock should trade at a P$/$E of around $21$ times earnings. Use the P$/$E approach to set a value on this stock.

Using the P$/$E approach, the value on this stock is $ $($Round to the nearest cent.$)$