Problem 9.16 (Nonconstant Growth) Question 19 of 20 Check My Work (2 remaining) Carnes Cosmetics Co.'s stock price is $55, and it recently paid a $1.50 dividend. This dividend is expected to grow by 25% 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