Question: < Back to Assignment Attempts: 0 0 Keep the Highest: 0/1 9. Problem 9.16 (Nonconstant Growth) eBook Carnes Cosmetics Co.'s stock price is $56,

< Back to Assignment Attempts: 0 0 Keep the Highest: 0/1 9. Problem 9.16 (Nonconstant Growth) eBook Carnes Cosmetics Co.'s stock price is $56, and it recently paid a $1.00 dividend. This dividend is expected to grow by 30% for the next 3 years, then grow forever at a constant rate, g; and rs 12%. 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. % Grade It Now Save & Continue Continue without saving

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