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Connor Publishing's preferred stock pays a dividend of $1.00 per quarter, and it sells for $70.00 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 $70.00 per share. What is its effective annual (not nominal) rate of return? Select the correct answer. a. 7.94%

b. 5.14%

c. 7.24%

d. 6.54%

e. 5.84

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