Assume that the risk$-$free rate of interest is $2\%$ and the expected rate of return on the market is

$12\%.$

$($a$)$ A share of stock sells for $$50$ today. It will pay a dividend of $$6$ per share at the end of the year.

If beta is $1\mathrm{.}2.$ What do investors expect the stock to sell for at the end of the year if the investor

believes the CAPM model holds?