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Whistle Stop Restaurants. has a preferred stock that pays a dividend of $1.375. If you are willing to purchase the stock at $21, what is

Whistle Stop Restaurants. has a preferred stock that pays a dividend of $1.375. If you are willing to purchase the stock at $21, what is your required rate of return? (Round your answer to the nearest .1% and assume that there are no transaction costs.)

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