Evaluate the price of a stock based on P/E approach and was given this case. Assume a firm has a current Price to Earnings (P/E) ratio of 11 and its current earning per share (EPS) is $2.50. It has increased its earning per share by 5% annually in the past and this rate is likely to continue for some time. If the P/E ratio is expected to increase to 14 in five years, what is the stock price expected to be in year 5?