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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 shore 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 shore at the end of the year (D 0.9. The risk-free rate is 5.1%, and the market risk premlum is 5%. lustus currently selis for $25.00 a share, and its dividend is expected to grow at some constant rate, 9 . Assuming the mariket is in equilibrium, what does the market belirve will be the stock price at the end of 3 years? (That is, what is P^1 ?) Do not round intermediate calculations. Round yout answer to the nearest cent. 5

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