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What is the nominal rate of return on a perpetual preferred stock with a $100 par value, a stated dividend of 10% of par, and
What is the nominal rate of return on a perpetual preferred stock with a $100 par value, a stated dividend of 10% of par, and a current market price of (a) $70, (b) $86, (c) $113, and (d) $136? Round your answers to 2 decimal places.
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