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Shares of John's Burger Shop are currently selling for $35 each. The T-Bills are currently yielding 2% and the Market Risk Premium is 8%. There

Shares of John's Burger Shop are currently selling for $35 each. The T-Bills are currently yielding 2% and the Market Risk Premium is 8%. There is a projected year-end dividend of $3 per share. There is a Beta of 1.25.

What are investors expecting the year-end price to be if the securities are at equilibrium?

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