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Potter's Violin Co.has just issued nonconvertible preferred stock with a par value of $100.00 and an annual dividend rate of 10.88 percent.The preferred stock is

Potter's Violin Co.has just issued nonconvertible preferred stock with a par value of $100.00 and an annual dividend rate of 10.88 percent.The preferred stock is currently selling for $120.39 per share which rate of return does the investor expect to receive on this stock if the stock is purchased today.

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