Question: What is the required rate of return on a preferred stock with a $50 par value, a stated annual dividend of 7% of par, and a current market price of $30, $40, $50 and $70 (assume the market is in equilibrium with the required return equal to the expected return)? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.