eBook Problem Walk-Through 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 risk-free rate is 4.8% and the market risk premium is 6%. The dividend is expected to grow at some constant rate, GL, 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 (i.e., what is P3)? Do not round intermediate calculations. Round your answer to the nearest cent. $ Icon Key