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Connor Publishing's preferred stock pays a dividend of $1.00 per quarter, and it sells for $67.50 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 $67.50 per share. What is its effective annual (not nominal) rate of return?

Select the correct answer.

a. 5.55%
b. 6.57%
c. 5.04%
d. 4.53%

e. 6.06%

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