Market value ratios

Ratios are mostly calculated using data drawn from the financial statements of a firm. However, another group of ratios, called market value based ratios, relate to a firm's observable market value, stock prices, and book values, integrating information from both the market and the firm's financial statements.

Cute Camel Woodcraft Company just reported earnings after tax $($also called net income$)$ of $$9,750,000,$ and a current stock price of $$28\mathrm{.}5$ per share. The company is forecasting an increase of $25\%$ for its after$-$tax income next year, but it also expects it will have to issue $2,900,000$ new shares of stock $($raising its shares outstanding from $5,500,000$ to $8,400,000).$

If Cute Camel's forecast turns out to be correct and its price$/$earnings $($P$/$E$)$ ratio does not change, what does the company's management expect its stock price to be one year from now? $($Note: Round any P$/$E ratio calculation to four decimal places and Expected EPS to two decimal places.$)$