Mitts Cosmetics Co.'s stock price is $52.65, and it recently paid a $1.50 dividend. This dividend is expected to grow by 24% for the next 3 years, then grow forever at a constant rate, g; and rs = 11%. At what constant rate is the stock expected to grow after Year 3? Round your answer to two decimal places. %
Please refer to below spreadsheet for calculation and answer. Cell reference also provided.
Cell reference -
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Mitts Cosmetics Co.'s stock price is $52.65, and it recently paid a $1.50 dividend. This dividend is expected to grow by...
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