Analogue Technology has preferred stock outstanding that pays a $18.80 annual dividend. It has a price of $204. What is the required rate of return (yield) on the preferred stock? Note: Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places. Answer is complete but not entirely correct. Rate of return 11.28 %

Analogue Technology has preferred stock outstanding that pays a $18.80 annual dividend. It has a price of $204. What is the required rate of return (yield) on the preferred stock? Note: Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places