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Bailey's Resources preferred stock has a par value of $25 and Davs a dividend of $1.625 per share. It presently sells for $24.25 per share.

Bailey's Resources preferred stock has a par value of $25 and Davs a dividend of $1.625 per share. It presently sells for $24.25 per share. What do investors reguire as a rate of refurn on this stock? Round off to the nearest 10%

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