PREFERRED STOCK VALUATION Farley Inc. has perpetual preferred stock outstanding that sells for $36.00 a share and pays a dividend of $3.00 at the end of each year. What is the required rate of return? Round your answer to two decimal places. % What will be the nominal rate of return on a perpetual preferred stock with a $100 par value, a stated dividend of 8% of par, and a current market price of (a) $62.00, (b) $76.00, (C) $106.00, and (d) $148.00? Round your answers to two decimal places a. % b. % C. % d. %