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6. Problem 9.09 (Preferred Stock Returns) B eBook Avondale Aeronautics has perpetual preferred stock outstanding with a par value of $100. The stock pays a

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6. Problem 9.09 (Preferred Stock Returns) B eBook Avondale Aeronautics has perpetual preferred stock outstanding with a par value of $100. The stock pays a quarterly dividend of $1.00 and its current price is $102. a. What is its nominal annual rate of retum? Do not round intermediate calculations. Round your answer to two decimal places. % b. What is its effective annual rate of return? Do not round intermediate calculations. Round your answer to two decimal places Grade it Now Save & Continue Continue without saving

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