Rascal, Inc., has an issue of preferred stock outstanding that pays a $7.0 dividend every year in
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Question:
Rascal, Inc., has an issue of preferred stock outstanding that pays a $7.0 dividend every year in perpetuity. If this issue currently sells for $88.60 pershare, the required return is ___________ percent. Express in percentage without the % sign, and round it to two decimal places, e.g., 13.45.
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