Gamma Industries has net income of $$1,600,000,$ and it has $775,000$ shares of common stock outstanding. The company's stock currently trades at $$68$ a share. Gamma is considering a plan in which it will use available cash to repurchase $20\%$ of its shares in the open market at the current $$68$ stock price. The repurchase is expected to have no effect on net income or the company's P$/$E ratio. What will be its stock price following the stock repurchase? Do not round intermediate calculations. Round your answer to the nearest cent.

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