What is the required rate of return on a preferred stock

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What is the required rate of return on a preferred stock with a $50 par value, a stated annual dividend of 8% of par, and a current market price of (a) $29, (b) $37, (c) $46, and (d) $67 (assume the market is in equilibrium with the required return equal to the expected return)? Do not round intermediate calculations. Round the answers to two decimal places.

Reference no: EM132681678

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