D . eBook Problem Walk-Through Ferrell Inc. recently reported net income of $10 million. It has 630,000 shares of common stock, which currently trades at $35 a share. Ferrell continues to expand and anticipates that 1 year from now, its net income will be $16.5 million. Over the next year, it also anticipates issuing an additional 94,500 shares ot stock so that 1 year from now it will have 724,500 shares of common stock. Assuming Ferrel's price/earnings ratio remains at its current level, what will be its stock price 1 year from now? Do not round Intermediate calculations. Round your answer to the nearest Cinti