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Crabby Hippo, Inc., has an issue of preferred stock outstanding that pays a $3.01 dividend every year, in perpetuity. If this issue currently sells for
Crabby Hippo, Inc., has an issue of preferred stock outstanding that pays a $3.01 dividend every year, in perpetuity. If this issue currently sells for $64.41 per share, what is the required return?
(Do not round intermediate calculations and round your answer to percent with two decimals, i.e. 32.18)
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