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You are considering an investment in lustus Corpocation's stock, which is expected to pay a dividend of $2.75 a share at the end of the

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You are considering an investment in lustus Corpocation's stock, which is expected to pay a dividend of $2.75 a share at the end of the year ( D2=$2.75 ) and has a beta of 0.9. The risk-free rate is 4.7%, and the market risk premilum is 6%. Justus currently selis for $38.00 a share, and its dividend is expected to grow at some constant rate, 9 . Assuming the market is in equilibrlum, what does the market belifve will be the stock price at the end of 3 years? (That is, what is P^37 ) Do not round intermediate calculations. Round your answer to the nearest cent. 1

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