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You are considering an investment in Justus Corporation's stock, which is expected to pay a dividend of $2.00 a share at the end of the

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You are considering an investment in Justus Corporation's stock, which is expected to pay a dividend of $2.00 a share at the end of the year (D1 = $2.00) and has a beta of 0.9. The risk free rate is 3.6%. and the market risk premium is 4.5%. Justus currently sells for $34.00 a share, and its dividend is expected to grow at some constant rate] g. Assuming the market is in equilibriun' what does the market believe will be the stock price at the end of 3 years? (That is, what is P3?) Do not round intermediate calculations. Round your answer to the nearest cent. $ 36.64 0

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