Moraine inc has an issue of preferred stock outstanding, Financial Management

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Moraine inc has an issue of preferred stock outstanding

Moraine, Inc., has an issue of preferred stock outstanding that pays a dollar 6.35 dividend every year in perpetuity. If this issue currently sells for dollar 92 per share, what is the required return? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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Financial Management: Moraine inc has an issue of preferred stock outstanding

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