Maslyn Manufacturing has projected sales of $147.4 million next year. Costs are expected to be $82.2 million, and net investment is expected to be $16.2 million. Each of these values is expected to grow at 15 percent the following year, with the growth rate declining by 2 percent per year until the growth rate reaches 7 percent, where it is expected to remain indefinitely. There are 6.7 million shares of stock outstanding and investors require a return of 14 percent on the companys stock. The corporate tax rate is 40 percent. The current stock price estimate is $57.44. Suppose instead that you estimate the terminal value of the company using a PE multiple. The industry PE multiple is 11. What is your new estimate of the companys stock price? [it is not $88.46 (11*$8.04) as Connect rejected this answer for the "new estimate of the company's stock price].