Moraine. Inc., has an issue of preferred stock outstanding that pays a $4.35 dividend every year m perpetuity. If this issue currently sells for $95 per share, what is the required return? (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Required return _____ % References Worksheet Learning Objective: 08-01 How stock prices depends on future dividends and dividend growth. Difficulty: Section: 8.1 Basic Common Stock Valuation