You have found the following historical information for DEF Company:

Year1 Year 2 Year 3 Year 4

Stock Price $25.6 $28.24 $27.78 $30.8

EPS $2.57 $3.43 $4.2 $4.04

Earnings are expected to grow by 3.23 percent for the next year (Year 5). Using the company's historical average PE as a benchmark, what is the target stock price (in $) in one year?

Answer to two decimals