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Question 1 1 pts Moraine, Inc., has an issue of preferred stock outstanding that pays a $1.39 dividend every year in perpetuity. If this issue

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Question 1 1 pts Moraine, Inc., has an issue of preferred stock outstanding that pays a $1.39 dividend every year in perpetuity. If this issue currently sells for $51.02 per share, what is the required return? Enter your answer as a percentage, omit the "%" sign in your response, and enter your answer with two decimal places. For example, 1.214% should be entered as 1.21

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