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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 shme at the end of the
You are considering an investment in Justus Corporation's stock, which is expected to pay a dividend of $2.00 a shme at the end of the year (D1=$2.00) and has a beta of 0.9 . The rek-fiee rate is 5.0%, and the market riak premium is 64. Justus currently selis for $41,00 a share, and iss dividend is expected to grow at some constant rate, 9 . Assuming the market is in equilibrium, what does the market believe will be the stock price at the end of 3 years? (That is, what is Piz) Do not round intermediate calculations. Round your answer to the nearest cent
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