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Rebello's preferred stock pays a dividend of $ 1 . 3 5 per quarter, and it sells for $ 5 7 . 5 0 per

Rebello's preferred stock pays a dividend of $1.35 per quarter, and it sells for $57.50 per share. What is its effective annual (not nominal) rate of return?
a.9.39%
b.9.73%
c.4.70%
d.10.80%
e.9.61%
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