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Carnes Cosmetics Co.'s stock price is forever at a constant rate, g; and rs your answer to two decimal places. % $54, and it

Carnes Cosmetics Co.'s stock price is forever at a constant rate, g; and rs your answer to two decimal places. % $54, and it recently paid a $1.00 dividend. This dividend is expected to grow by 18% for the next 3 years, then grow 12%. At what constant rate is the stock expected to grow after Year 37 Do not round intermediate calculations. Round

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