Issue of preferred stock outstanding-required return

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Reference no: EM13835220

Rabie, Inc., has an issue of preferred stock outstanding that pays a $6.40 dividend every year, in perpetuity.

Required:

If this issue currently sells for $80.80 per share, what is the required return? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Reference no: EM13835220

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