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You are considering an investment in Justus Corporation's stock, which is expected to pay a dividend of $2.25 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 $2.25 a share at the end of the year ( D1= $2.25 ) and has a beta of 0.9. The risk-free rate is 5.7%, and the market risk premlum is 4.5%. Justus currently sells for $43.00 a share, and its dividend is expected to grow at some constant rate, 9 . Assuming the market is in equilibrium, what does the market believe will be the stack price at the end of 3 years? (That is, what is P3 ) Do not round intermediate calculations. Round your answer to the nearest cent

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