15) A stock is expected to pay a dividend of $3.00 at the end of the year...

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15)
A stock is expected to pay a dividend of $3.00 at the end of theyear (i.e., D₁ = $3.00), and it should continue to growat a constant rate of 9% a year. If its required return is 15%,what is the stock's expected price 1 year from today? Do not roundintermediate calculations. Round your answer to the nearestcent.
16)
You are considering an investment in Justus Corporation's stock,which is expected to pay a dividend of $1.75 a share at the end ofthe year (D₁ = $1.75) and has a beta of 0.9. Therisk-free rate is 4.1%, and the market risk premium is 4.5%. Justuscurrently sells for $34.00 a share, and its dividend is expected togrow at some constant rate, g. Assuming the market is inequilibrium, what does the market believe will be the stock priceat the end of 3 years? (That is, what is ?) Do not roundintermediate calculations. Round your answer to the nearestcent.

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15)A stock is expected to pay a dividend of $3.00 at the end of theyear (i.e., D1 = $3.00), and it should continue to growat a constant rate of 9% a year. If its required return is 15%,what is the stock's expected price 1 year from today? Do not roundintermediate calculations. Round your answer to the nearestcent.16)You are considering an investment in Justus Corporation's stock,which is expected to pay a dividend of $1.75 a share at the end ofthe year (D1 = $1.75) and has a beta of 0.9. Therisk-free rate is 4.1%, and the market risk premium is 4.5%. Justuscurrently sells for $34.00 a share, and its dividend is expected togrow at some constant rate, g. Assuming the market is inequilibrium, what does the market believe will be the stock priceat the end of 3 years? (That is, what is ?) Do not roundintermediate calculations. Round your answer to the nearestcent.