Gamma Enterprises has asked you to calculate the return on its preference shares to help in its calculation of its weighted average cost of capital (WACC). Gamma has 310,000 preference shares issued at par. Preference shares 7.0% $20 and the current market price is $10. What is the required return on one of Gammas preference shares? Record your answer in decimals and to four decimal places 0.0000, e.g., your answer should be 0.034 not 3.40%