Carnes Cosmetics Co.'s stock price is $74.96, and it recently paid a $1.25 dividend. This dividend is expected to grow by 30% for the next 3 years, then grow forever at a constant rate, g; and r_s = 11%. At what constant rate is the stock expected to grow after Year 3? Round your answer to two decimal places. Do not round your intermediate calculations.

Carnes Cosmetics Co.'s stock price is $74.96, and it recently paid a $1.25 dividend. This dividend is expected to grow by 30% for the next 3 years, then grow forever at a constant rate, g; and ris 11%. At what constant rate is the stock expected to grow after Year 3? Round your answer to two decimal places. Do not round your intermediate calculations