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Connor Publishing's preferred stock pays a dividend of $1.00 per quarter, and it sells for $60.00 per share. What is its effective annual (not nominal)

Connor Publishing's preferred stock pays a dividend of $1.00 per quarter, and it sells for $60.00 per share. What is itseffectiveannual (not nominal) rate of return?

Select the correct answer.

a. 6.08%b. 9.12%c. 6.84%d. 8.36%e. 7.60%

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