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You have found the following historical information for DEF Company: Year1 Year 2 Year 3 Year 4 Stock Price $48.28 $50.21 $53.76 $58.98 EPS $2.41

You have found the following historical information for DEF Company:

Year1 Year 2 Year 3 Year 4

Stock Price $48.28 $50.21 $53.76 $58.98

EPS $2.41 $2.47 $3.18 $3.6

Earnings are expected to grow at 5 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. Show all work please! Thank you!

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