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The market price of a share of preferred stock is $20.67 and the dividend is $2.02. What discount rate did the market use to value

The market price of a share of preferred stock is $20.67 and the dividend is $2.02. What discount rate did the market use to value the stock?

Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))

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