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Michelle Co.s stock price is $60, and it recently paid a $2 dividend. This dividend is expected to grow by 25 percent for the next

Michelle Co.s stock price is $60, and it recently paid a $2 dividend. This dividend is expected to grow by 25 percent for the next 3 years, and then grow forever at a constant rate, g, and rs = 12%. At what constant rate is the stock expected to grow after Year 3?

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