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Carnes Cosmetics Co.'s stock price is $53, and it recently paid a $1.75 dividend. This dividend is expected to grow by 28% for the next

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Carnes Cosmetics Co.'s stock price is $53, and it recently paid a $1.75 dividend. This dividend is expected to grow by 28% for the next 3 years, the grow foreyer at a constant rate : and 16%. At what constant rate is the stock expected to grow after Year 37 Do not round intermediate calculation Round your answer to two decimal places

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