You have found the following historical information for the Daniela Company:

	Year 1				Year 2				Year 3				Year 4
Stock price		$	45.79			$	59.22			$	66.44			$	62.72
EPS			2.44				2.50				2.67				2.66

Earnings are expected to grow at 11 percent for the next year.

Using the company's historical average PE as a benchmark, what is the target stock price in one year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Target price $