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

	Year 1				Year 2				Year 3				Year 4
Stock price		$	46.02			$	60.43			$	66.09			$	63.01
EPS			2.45				2.51				2.68				2.67

Earnings are expected to grow at 12 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 $