A year ago, an investor purchased 100 shares of Acme Devices Corp. preferred stock at a

price of $36.00/share.

The firm has just paid its annual dividend of $4.10. Now the

share is priced at $30.60 in the market. What is the dividend yield of the stock based on

its current price?

a) 11.39%

b) 15.00%

c) 13.40%

d) 1.60%

e) 28.40%

please show all work