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If ABC Company has preference shares (preferred stock) that pays an annual dividend of $1.00 per quarter (every 3 months). As a result, ABC Company

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If "ABC" Company has preference shares (preferred stock) that pays an annual dividend of $1.00 per quarter (every 3 months). As a result, "ABC" Company preference shares (preferred stock) sells for $55.00 per share. Based on the above-given information, what is the effective annual rate of return

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