Penguin, Incorporated, has balance sheet equity of $$5\mathrm{.}7$ million. At the same time, the income statement shows net income of $$843,600.$ The company paid dividends of $$459,762$ and has $120,000$ shares of stock outstanding. If the benchmark PE ratio is $21,$ 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$.,32\mathrm{.}16.)$

Target stock price