Top hedge fund manager Sally Buffit believes that a stock with the same market risk as$,$ the S&P $500$ will sell at year$-$end at a price of $$41.$ The stock will pay a dividend at year$-$end of $$2\mathrm{.}00.$ Assume that risk$-$free Treasury securities currently offer an interest rate of $1\mathrm{.}6\%.$

Average rates of return on Treasury bills, government bonds, and common stocks, $1900-2020($figures in percent per year$)$ are as follows.

$\backslash$table$[[$Portfolio$,\backslash$table$[[$Average Annual, Average Premium $($Extra$],[$Rate of Return return versus Treasury$],[(8)],[$bills$)(8$