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(Preferred stock expected return) You are considering the purchase of 100 shares of preferred stock. Your required return is 14 percent. If the stock is

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(Preferred stock expected return) You are considering the purchase of 100 shares of preferred stock. Your required return is 14 percent. If the stock is currently selling for $46 and pays a dividend of $5.75, should you purchase the stock? a. What is the expected rate of return of the stock? % (Round to two decimal places.)

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