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A preferred stock pays dividends of $5.28 per share each year indefinitely. The stock is currently selling for $66.71 per share. What is the appropriate

A preferred stock pays dividends of $5.28 per share each year indefinitely. The stock is currently selling for $66.71 per share. What is the appropriate discount rate for this preferred stock?

Group of answer choices

5.93%

12.63%

9.84%

7.91%

3.52%

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