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Constant Dividend Growth Valuation Crisp Cookware's common stock is expected to pay a dividend of $1.5 a share at the end of this year (D1=$1.50);

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Constant Dividend Growth Valuation Crisp Cookware's common stock is expected to pay a dividend of $1.5 a share at the end of this year (D1=$1.50); its beta is 0.9. The riskefree rate is 4.4% and the market risk premium is 6%. The dividend is expected to grow at some constant rate, 9 , and the stock currently selis for $50 a share. Assuming the market is in equilibrium, what does the market believe will be the stock's price at the end of 3 years (i.e., what is P^3 )? Do not round intermediate calculations. Round your answer to the nearest cent

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