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Rebello's preferred stock pays a dividend of $1.40 per quarter, and it sells for $67.50 per share. What is its effective annual (not nominal) rate

Rebello's preferred stock pays a dividend of $1.40 per quarter, and it sells for $67.50 per share. What is its effective annual (not nominal) rate of return?

a. 9.39%

b. 8.56%

c. 8.47%

d. 4.15%

e. 8.30%

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