Required return-preferred stock outstanding

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Ayden, Inc., has an issue of preferred stock outstanding that pays a dividend of $6.75 every year, in perpetuity. This issue currently sells for $93 per share. What is the required return? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Required return %

Reference no: EM131330617

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