Question: Attempts 0 Keep the Highest 0/1 5. Problem 9.16 (Nonconstant Growth) eBook Carnes Cosmetics Co.'s stock price is $53, and it recently paid a

Attempts 0 Keep the Highest 0/1 5. Problem 9.16 (Nonconstant Growth) eBook

Attempts 0 Keep the Highest 0/1 5. Problem 9.16 (Nonconstant Growth) eBook Carnes Cosmetics Co.'s stock price is $53, and it recently paid a $1.25 dividend. This dividend is expected to grow by 23% for the next 3 years, then grow forever at a constant rate, g; and rs 15%. 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. % Continu

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