Question 3 10 pts Pacific Storage expects to have earnings per share of $6.39 in 2005, and $5.65 in 2006. The average price-earnings ratio for General industry is 10X (times). Pacific Storage has traditionally had a P/E ratio 14% higher than the industry, and in 2005 it is expected to be 19% higher than the industry. Calculate the expected price of Pacific's stock price in 2005, based on expectations of EPS and P/E ratios. (Keep 2 decimal places)