Question: Save Submit Assignment for Grading Questions Problem 9.16 (Nonconstant Growth) Question 19 of 20 17. Check My Work (3 remaining) 18. 19. eBook 20. Carnes

Save Submit Assignment for Grading Questions Problem 9.16 (Nonconstant Growth) Question 19 of 20 17. Check My Work (3 remaining) 18. 19. eBook 20. Carnes Cosmetics Co.'s stock price is $46, and it recently paid a $2.00 dividend. This dividend is expected to grow by 19% for the next 3 years, then grow forever at a constant rate, g; and rs = 14%. 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. %

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