Fox woodworking inc issued preferred shares at a face value, Financial Management

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Fox woodworking inc issued preferred shares at a face value

Fox Woodworking Inc. issued preferred shares at a face value of $48 to yield 5% 10 years ago. The shares are currently selling at $62. What return are they earning for investors who buy them today? Round the answer to two decimal places. Please show every step.

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Financial Management: Fox woodworking inc issued preferred shares at a face value

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Financial Management: Fox woodworking inc issued preferred shares at a face value

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