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The Quaid Brothers Corporation has preferred shares outstanding that pay an annual dividend of $14.75. Each has a price of $158. What is the required

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The Quaid Brothers Corporation has preferred shares outstanding that pay an annual dividend of $14.75. Each has a price of $158. What is the required rate of return (yield) on the preferred stock? (Round the final answer to 2 decimal places.) Required rate of return %

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