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10 pts Question 8 What will be the nominal rate of return on a perpetual preferred stock with a $100 par value, a stated dividend

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10 pts Question 8 What will be the nominal rate of return on a perpetual preferred stock with a $100 par value, a stated dividend of 8.9% of par, and a current market price of $62.17. State your answer as a percentage to 2 decimal places. Do not include the % symbol

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