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P9.18 Nonconstant Growth Mitts Cosmetics Co.\'s stock price in $58.88, and it re

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Question

P9.18
Nonconstant Growth Mitts Cosmetics Co.'s stock price in $58.88, and it recentlypaid a $2 dividend. This dividend is expected to grow by 25% forthe next 3 years, and then grow forever at a constant rate,g,andrs=12%. at what constant rate is the stock expected togrow after year 3? P9.18
Nonconstant Growth Mitts Cosmetics Co.'s stock price in $58.88, and it recentlypaid a $2 dividend. This dividend is expected to grow by 25% forthe next 3 years, and then grow forever at a constant rate,g,andrs=12%. at what constant rate is the stock expected togrow after year 3?

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