You have found the following historical information for DEF Company: Year1 Year 2 Year 3 Year 4 Stock Price $46.05 $53.59 $55.56 $60.23 $2.33 $2.89 $2.85 $3.74 EPS Earnings are expected to grow at 4 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