Constant Growth Valuation Crisp Cookware's common stock is expected to pay a dividend of $2.75 a share at the end of this year (D1 = $2.75); its beta is 1.15; the risk-free rate is 4.4%; and the market risk premium is 5%. The dividend is expected to grow at some constant rate g, and the stock currently sells for $45 a share. Assuming the market is in equilibrium, what does the market believe will be the stock's price at the end of 3 years? Do not round intermediate steps. Round your answer to the nearest cent.