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Radebe Corporation $100 face value fixed-rate preferred stock pays an annual dividend of $7.47 per share. What is the yield on this stock if today's

Radebe Corporation $100 face value fixed-rate preferred stock pays an annual dividend of $7.47 per share. What is the yield on this stock if today's market price is $85.00?

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6.35%.

Cannot be determined from the data given.

7.47%.

8.79%.

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