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You own 200 shares of Somner Resources preferred stock, which currently sells for $40 per share and pays annual dicidends of $3.40 per share. a.

You own 200 shares of Somner Resources preferred stock, which currently sells for $40 per share and pays annual dicidends of $3.40 per share.

a. What is your expected return?

b. If you reuire an 8 percent return, given the current price, should you sell or buy more stock?

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