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6. Problem 9.16 Click here to read the eBook: Valuing Nonconstant Growth Stocks Problem 9-16 Nonconstant growth Mitts Cosmetics Co.'s stock price is $79.69, and

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6. Problem 9.16 Click here to read the eBook: Valuing Nonconstant Growth Stocks Problem 9-16 Nonconstant growth Mitts Cosmetics Co.'s stock price is $79.69, and it recently paid a $1.25 dividend. This dividend is expected to grow by 20% for the next 3 years, then grow forever at a constant rate, g; and rs = 11%. At what constant rate is the stock expected to grow after Year 3? Round your answer to two decimal places

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