Penguin, Incorporated, has balance sheet equity of $$6\mathrm{.}6$ million. At the same time, the income statement shows net income of $$798,600.$ The company paid dividends of $$403,293$ and has $100,000$ shares of stock outstanding. If the benchmark PE ratio is $30,$ 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$.,32\mathrm{.}16.)$

Answer is complete but not entirely correct.

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