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Preferred stock rate of return (LO4) Grant Hillside Homes, Inc., has preferred stock outstanding that pays an annual dividend of $9.80. Its price is $110.

Preferred stock rate of return (LO4) Grant Hillside Homes, Inc., has preferred stock outstanding that pays an annual dividend of $9.80. Its price is $110. What is the required rate of return (yield) on the preferred stock

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