Problem 9.07 (Preferred Stock Rate of Return) Save b. Submit Assignment for Gradin Question 7 of 24 Check My Work eBook What will be the nominal rate of return on a perpetual preferred stock with a $100 par value, a stated dividend of 12% of par, and a current market price of (a) $56, (b) $80, (c) $106, and (d) $1307 Round your answers to two decimal places. Check My Work