The Bellagio Corporation recently reported net income of $1,000,000. It has 200,000 shares of common stock, which currently trades at $35 a share. Bellagio continues to expand and expects that 1 year from now its net income will be $1,625,000. Over the next year it also anticipates issuing an additional 40,000 shares of stock, so that 1 year from now it will have 240,000 shares of common stock. Assuming its price/earnings ratio remains at its current level, what will be its stock price 1 year from now?

	a.	$47.40
	b.	$56.88
	c.	$25.85
	d.	$29.17
	e.	$35.00