Homework: Chapter 7 Homework Save Score: 0 of 1 pt 4 of 8 (0 complete) HW Score: 0%, 0 of 8 pts P7-12 (similar to) Question Help Yankee Athletic Club has preferred stock with a par value of $90 and an annual 8% cumulative dividend. Given the following prices for the preferred stock, what is each investor seeking for his or her return? a. Alex is willing to pay $40. b. Derek is willing to pay $25. c. Marcia is willing to pay $15. d. Johnny is willing to pay $10. a. If Alex is willing to pay $40 for the preferred stock, what rate of retum is he seeking? % (Round to two decimal places)