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ch 11.2Edgar's firm has preferred stock outstanding that pays a current dividend of $4.00 per year and has a current price of $32.25. Currently,his preferred

ch 11.2Edgar's firm has preferred stock outstanding that pays a current dividend of $4.00 per year and has a current price of $32.25. Currently,his preferred stock makes up approximately 15% of his firm's long-term financing. What is the market required rate of return onEdgar'sfirm's preferred stock?

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