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s Problem 9.16 (Nonconstant Growth) O eBook O Icon Key Question 16 of 24 Check My Work Carnes Cosmetics Co.'s stock price is $55, and

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s Problem 9.16 (Nonconstant Growth) O eBook O Icon Key Question 16 of 24 Check My Work Carnes Cosmetics Co.'s stock price is $55, and it recently paid a $2.50 dividend. This dividend is expected to grow by 18% 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 37 Do not round intermediate calculations. Round your answer to two decimal places. Check My Work

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