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What will be the nominal rate of return on a perpetual preferred stock with a $100 par value, a stated dividend of 9% of par,
What will be the nominal rate of return on a perpetual preferred stock with a $100 par value, a stated dividend of 9% of par, and a current market price of (a) $54, (b) $90, (c) $112, and (d) $137? Round your answers to two decimal places.
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