Problem:
A stock that currently trades for $70 per share is expected to pay a year-end dividend of $4 per share. The dividend is expected to grow at a constant rate over time. The stock has a beta of 1.4, the risk-free rate is 3 percent, and the market risk premium is 6 percent.
Required:
Question: What is the stocks expected price seven years from today?
Note: Please provide full description.