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You own 250 McCormick Resources' preference shares, which currently sell for $38.50 per share and pay annual dividends of $3.25 per share. Required: a) What

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You own 250 McCormick Resources' preference shares, which currently sell for $38.50 per share and pay annual dividends of $3.25 per share. Required: a) What is your expected return? (2 marks) b) If you require an 8% p.a. return, given the current price, should you sell or buy more shares in McCormick Resources? Justify your response

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