You have found the following historical information for DEF Company: Year1 Year 2 Year 3 Year 4 Stock Price $47.72 $51.4 $54.27 EPS $2 $2.82 $2.97 $3.98 $56.13 Earnings are expected to grow at 8 percent for the next year. Using the company's historical average PE as a benchmark, what is the target stock price in one year? Answer to two decimals