Historically, Jones Trucking Has Had a P/E Ratio of 16

Historically, Jones Trucking has had a P/E ratio of 16.2. The firm has current net income of $62,000 with 80,000 shares of stock outstanding. The EPS growth rate is 4.7 percent. What is the expected price of this stock one year from now?

A) $11.32
B) $11.85
C) $12.41
D) $13.15
E) $14.10