Penguin, Incorporated, has balance sheet equity of $$5\mathrm{.}9$ million. At the same time, the income statement shows net income of $$885,000.$ The company paid dividends of $$473,475$ and has $150,000$ shares of stock outstanding. If the benchmark PE ratio is $23,$ what is the target stock price in one year? Assume the firm will grow at the sustainable growth rate. $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$