Question: Moraine, Inc., has an issue of preferred stock outstanding that pays a $3.55 dividend every year in perpetuity. If this issue currently sells for $91 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.) The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.