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A share of preferred stock pays a quarterly dividend of $3.50. If the price of the stock is $156, what is the nominal (not effective)

A share of preferred stock pays a quarterly dividend of $3.50. If the price of the stock is $156, what is the nominal (not effective) annual rate of return? a. 8.00% b. 9.27% c. 10.00% d. 8.55% e. 9.00%

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