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Fegley, Incorporated, has an issue of preferred stock outstanding that pays a $ 4 . 8 0 dividend every year, In perpetulty. If this issue

Fegley, Incorporated, has an issue of preferred stock outstanding that pays a $4.80 dividend every year, In perpetulty. If this issue currently sells for $80.00 per share, what is the required return?
Note: Do not round Intermedlate calculatlons and enter your answer as a percent rounded to 2 declmal places, e.g.,32.16.
Required return
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