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You are interested in buying ABC Company's preferred stock, which is traded at $50.47 per share today. This preferred stock pays a perpetual annual dividend

You are interested in buying ABC Company's preferred stock, which is traded at $50.47 per share today. This preferred stock pays a perpetual annual dividend of $5.21 per share and has a par value of $30 per share. What rate of return do you expect from the purchase of this preferred stock?

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