Question: N 2.5 points Suppose the expected return for the S&P 500 is 11% and the current T-Bill rate is 3%. You also expect a stock

N 2.5 points Suppose the expected return for the S&P 500 is 11% and the current T-Bill rate is 3%. You also expect a stock that has a beta of 1.2 to pay a dividend of $2.34 exactly one year from now, and you expect its price to be $56.01 immediately after the dividend is paid. If the stock market is efficient and the CAPM holds, what is a fair price for the stock today? Round your answer to the nearest penny. Type your

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