Question
A company has issued preferred stock with an annual dividend of $1.59 that will be paid in perpetuity. The current price of the stock is
A company has issued preferred stock with an annual dividend of $1.59 that will be paid in perpetuity. The current price of the stock is $46.8. What is the expected rate of return on the preferred stock? Enter your answer as a percentage. Do not include the percentage sign in your answer.
Enter your response below rounded to 2 DECIMAL PLACES.
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Financial Statement Analysis
Authors: Charles H. Gibson
13th International Edition
1133189407, 9781133189404
