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Farley Inc. has perpetual preferred stock outstanding that sellsfor $50 a share and pays a dividend of $3.00 at the end of eachyear. What is

Farley Inc. has perpetual preferred stock outstanding that sellsfor $50 a share and pays a dividend of $3.00 at the end of eachyear. What is the required rate of return? Round your answer to twodec 2 answers

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