Serena, Inc. has an issue of $9\%$ preferred stock outstanding which pays annual dividends. If this issue currently sells for $$164\mathrm{.}60$ per share, what is the required return?

Group of answer choices

$5\mathrm{.}47\%$

$6\mathrm{.}89\%$

$7\mathrm{.}70\%$

$8\mathrm{.}23\%$