Yankee Athletic Club has preferred stock with a par value of $90 and an annual 8% cumulative dividend. Given the follewing prices for the preferred stock, what is each investor seeking for his or her return? a. Alex is willing to pay $40 b. Derek is willing to pay $30 c. Marcia is willing to pay $20. d. Johnny is willing to pay $10. a. If Alex is willing to pay $40 for the preferred stock, what rate of return is he seeking? % (Round to two decimal places)