Problem 10-23\ The Quaid Brothers Corporation has preferred shares outstanding that pay an annual dividend of

$18.80

. Each has a price of

$204

.\ What is the required rate of return (yield) on the preferred stock? (Round the final answer to 2 decimal places.)\ Required rate of return\

%

The Quaid Brothers Corporation has preferred shares outstanding that pay an annual dividend of $18.80. Each has a price of $204. What is the required rate of return (yield) on the preferred stock? (Round the final answer to 2 decimal places.) Required rate of return %