B7-12 (static) Yankee Athletic Club has preferred stock with a par value of 350 and an annual 6% cumulative dividend. Given the following prices for the preferred stock, whats each investering for his or her a. Alex is willing to pay $40 b. Derek is willing to pay $30 c. Marcia is willing to pay $20. d. Johnny is willing to pay $15. a. If Alex is willing to pay $40 for the preferred stock, what rate of return is he seeking? % (Round to two decimal places)