Constant Growth Valuation Crisp Cookware's common stock is expected to pay a dividend of $1.5 a share at the end of this year (D. - $1.50); its beta is 0.9. The risk-free rate is 4.7% and the market risk premium is 4%. The dividend is expected to grow at some constant rate y, and the stock currently sells for $40 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 (1.e., what is P.)? Do not round intermediate calculations. Round your answer to the nearest cent