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Rebello's preferred stock pays a dividend of $1.00 per quarter and it sells for $55.00 per share. What is its effective (not nominal) annual rate
Rebello's preferred stock pays a dividend of $1.00 per quarter and it sells for $55.00 per share. What is its effective (not nominal) annual rate of return?
A. 6.62%
B. 6.82%
C. 7.03%
D. 7.25%
E. 7.47%
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