Market-Based Valuation of ABC Electronics

ABC Electronics, a publicly traded company in the consumer electronics sector, has been consistently growing its revenue and earnings over the past five years.

The firm currently has a price-to-earnings (P/E) ratio of 20. The average P/E ratio of its closest competitors in the industry is 25. Furthermore, the company's recent earnings report revealed an increase in its earnings per share (EPS) to $2.50, while analysts project an 8% annual growth rate for the next five years.

If ABC Electronics were to trade at the industry average P/E ratio, what would be its estimated stock price based on this market-based valuation technique?