Carnes Cosmetics Co.'s stock price is $57, and it recently paid a $1.50 dividend. This dividend is expected to grow by 16% for the next
Carnes Cosmetics Co.'s stock price is $57, and it recently paid a $1.50 dividend. This dividend is expected to grow by 16% for the next 3 years, then grow forever at a constant rate, g; and rs = 15%. 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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Authors: Frederic S. Mishkin
12th Global Edition
1292268859, 978-1292268859
