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Question 16 (5 points) Krank Industries Preferred Stock pays a $31 annual dividend. If the current market price of a share of Rank Preferred is

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Question 16 (5 points) Krank Industries Preferred Stock pays a $31 annual dividend. If the current market price of a share of Rank Preferred is $255, what is the rate of return on the stock? Express your answer as a percentage to 2 decimal places WITHOUT the percentage sign(%) Your

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