What return to market investors require on it currently

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Mackery, Inc., has an outstanding issue of preferred stock that pays a $5.94 dividend every year. If this issue currently sells for $117.1 per share, what return to market investors require on it currently? (Do not include the percent sign (%). Round your answer to 2 decimal places (e.g., 32.16).)

Reference no: EM13872338

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