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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 7% of par,

What will be the nominal rate of return on a perpetual preferred stock with a $100 par value, a stated dividend of 7% of par, and a current market price of (a) $62, (b) $81, (c) $97, and (d) $147? Round your answers to two decimal places.

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