Question: Attempts: Keep the Highest: /1 9. Problem 9.16 (Nonconstant Growth) eBook Carnes Cosmetics Co.'s stock price is $45, and it recently paid a $1.00 dividend.

Attempts: Keep the Highest: /1 9. Problem 9.16 (Nonconstant Growth) eBook Carnes Cosmetics Co.'s stock price is $45, and it recently paid a $1.00 dividend. This dividend is expected to grow by 20% for the next 3 years, then grow forever at a constant rate, 9; and rs - 10%. At what constant rate is the stock expected to grow after Year 37 Do not round Intermediate calculations. Round your answer to two decimal places. Continue without saving

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