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You have just purchased a share of preferred stock for $80.00. The preferred stock pays an annual dividend of $7.50 per share forever. What is

You have just purchased a share of preferred stock for $80.00. The preferred stock pays an annual dividend of $7.50 per share forever. What is the rate of return on your investment?

10.67%

8.56%

11.95%

9.38%

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