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You bought a share of preferred stock for $60.00. The preferred stock pays a perpetual dividend of $3.25. What is the rate of return on

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You bought a share of preferred stock for $60.00. The preferred stock pays a perpetual dividend of $3.25. What is the rate of return on your investment? Round intermediate steps and your final answer to four decimals. Enter your answer in decimal format (EX: XXXX)

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