Preferred Stock Rate of Return

What is the required rate of return on a preferred stock with a $50 par value, a stated dividend of 8% of par, and a current market price of

(a) $61,

(b) $84,

(c) $95, and

(d) $140

(assume the market is in equilibrium with the required return equal to the expected return)? Round the answers to two decimal places.

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