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You just purchased a preferred share for $29.21. The preferred share just paid a dividend of $0.46 per share. Dividends are paid quarterly (four times

You just purchased a preferred share for $29.21. The preferred share just paid a dividend of $0.46 per share. Dividends are paid quarterly (four times a year). What is the effective annual rate of return that you will earn on the preferred share? Your answer should be shown as a percentage and your answer should be accurate to two decimal places. Therefore 0.05123456 would be 5.12.

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