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Carnes Cosmetic's Co . ' s stock price is $ 4 7 , and it recently paid a $ 1 . 5 0 dividend. This

Carnes Cosmetic's Co.'s stock price is $47, and it recently paid a $1.50 dividend. This dividened is expected to grow by 28% for the next 3 years, then grow forever at a constant rate, g; and rs 16%. At what constant rate is the stock expected to grow after Year3?

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