The Riverina Bank has issued perpetual preference shares with a $100 par value. The bank pays a semi-annual dividend of $3.30 on this share. You want to buy this preference share, if the market price of this preference share is $56.90, what is the market's required rate of return?

Question 3 options:

a)

11.6%

b)

12.6%

c)

13.6%

d)	None of the above.