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How do I calculate the required rate of return? Below is the info I have been given. I know it should be easy, but I

How do I calculate the required rate of return? Below is the info I have been given. I know it should be easy, but I am doing something wrong.

Perpetual preferred stock outstanding that sells for $38.00 a share and pays a dividend of $5.00 at the end of each year. What is the required rate of return?

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