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You are corsidering an irvestment in Justus Corporation's stock, which is expected to pay a dividend of $1.50 a share at the end af the

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You are corsidering an irvestment in Justus Corporation's stock, which is expected to pay a dividend of $1.50 a share at the end af the year (Di =31. sio) and has a teta of 0.9. The risk-free rate is 2.6%, and the market risk premium is 4%, Justus currently selis for $38.00 a share, and its dividend is expectod to grew at some corvant rate, 9. Assuming the morket is in equilibrium, what does the market believe will be the stock price at the end of 3 years? (That is, what \& P^3 ?) Do not round intermediate calculations. Round your answer to the nearest cent

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