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Rebello's preferred stock pays a dividend of $1.00 per quarter, and it sells for $65.00 per share. What is its effective annual (not nominal) rate

Rebello's preferred stock pays a dividend of $1.00 per quarter, and it sells for $65.00 per share. What is its effective annual (not nominal) rate of return?

a. 6.23%

b. 7.68%

c. 6.30%

d. 7.37%

e. 7.12%

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