A share of stock with a beta of $0\mathrm{.}79$ now sells for $$61.$ Investors expect the stock to pay a year$-$end dividend of $$3.$ The T$-$bill rate is $6\%,$ and the market risk premium is $9\%.$

a$.$ Suppose investors believe the stock will sell for $$63$ at year$-$end. Calculate the opportunity cost of capital. Is the stock a good or bad buy? What will investors do$?$

b$.$ At what price will the stock reach an "equilibrium" at which it is perceived as fairly priced today?