$9\mathrm{.}95\%,9\mathrm{.}96\%,9\mathrm{.}97\%,9\mathrm{.}98\%,9\mathrm{.}99\%,10\mathrm{.}00\%$ are all wrongCarnes Cosmetics Co$.\text{'}$s stock price is $$58,$ and it recently paid a $$2\mathrm{.}75$ dividend. This dividend is expected to grow

by $28\%$ for the next $3$ years, then grow forever at a constant rate, $g$; and $r_s=16\%.$ At what constant rate is the

stock expected to grow after Year $3?$ Do not round intermediate calculations. Round your answer to two decimal

places.

Incorrect