(Answered) Ferrell inc recently reported net income of 8 million it

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Ferrell Inc. recently reported net income of $8 million. It has 500,000 shares of common stock, which currently trades at $22.50 a share. Ferrell continues to expand and anticipates that 1 year from now, its net income will be $13.2 million. Over the next year, it also anticipates issuing an additional 150,000 shares ofstock. Assuming Ferrell's price/earnings ratio remains at its current level, what will be its stock price 1 year from now?

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