Net income - 3,200,000
Current stock price is $33 per share
4,000,000 in net income for next year is forecast, expect to issue 300,000 new shares of stock (raising its shares outstanding from 1,500,000 to 1,800,000). If our forecast turns out to be right, and it's price/earnings (P/E) ratio does not change, our stock price one year from now could be $35.48?