Carnes Cosmetics Co.'s stock price is $56, and it recently paid a $1.00 dividend. This dividend is expected to grow by 1

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answerhappygod
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Carnes Cosmetics Co.'s stock price is $56, and it recently paid a $1.00 dividend. This dividend is expected to grow by 1

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Carnes Cosmetics Co.'s stock price is $56, and it recently paid
a $1.00 dividend. This dividend is expected to grow by 16% for the
next 3 years, then grow forever at a constant rate, g; and
rs = 13%. 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.
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