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Analogue Technology has preferred stock outstanding that pays a $9 annual dividend. It has a price of $76. What is the required rate of return

Analogue Technology has preferred stock outstanding that pays a $9 annual dividend. It has a price of $76.

What is the required rate of return (yield) on the preferred stock? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

Rate of return %

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