Problem 9.06 Question 5 of 9 Check My Work (5 remaining) Click here to read the eBook: Preferred Stock PREFERRED STOCK VALUATION Farley Inc. has perpetual preferred stock outstanding that sells for $46.00 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. % Check My Work (5 remaining)