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Nissan has perpetual preferred stock outstanding with a par value of $100. The stock pays a quarterly dividend of $1.00, and its current price is

Nissan has perpetual preferred stock outstanding with a par value of $100. The stock pays a quarterly dividend of $1.00, and its current price is $45. What is its effective annual rate of return? O 8.89% O 1.05% 09.19% O 2.24%

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