Question $1$

$2$ pts

Assuming the market is in equilibrium, what does the market believe

will be the stock price $($ $ $)$ at the end of $3$ years? $($That is$,$ what is hat$(P{)}_3?)$

Round your answer to two decimal places. Do not round your

intermediate calculations. Do not enter the dollar sign $($$$)$; enter the

numerical number only.