Crisp Cookware’s common stock is expected to pay a dividend of $1.5 a share at the end of this…

Crisp Cookware’s common stock is expected to pay a dividend of $1.5 a share at the end of this…

Crisp Cookware’s common stock is expected to pay a dividend of $1.5 a share at the end of this year (D1 = $1.50); its beta is 1.00. The risk-free rate is 5.4% and the market risk premium is 4%. The dividend is expected to grow at some constant rate gL, and the stock currently sells for $44 a share. Assuming the market is in equilibrium, what does the market believe will be the stock’s price at the end of 3yrs yearsyears (i.e., what is )? Do not round intermediate steps. Round your answer to the nearest cent

Crisp Cookware’s common stock is expected to pay a dividend of $1.5 a share at the end of this…

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