Farley Inc. has perpetual preferred stock outstanding that sells for $34 a share and pays a dividend of $3.50 at the end

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answerhappygod
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Farley Inc. has perpetual preferred stock outstanding that sells for $34 a share and pays a dividend of $3.50 at the end

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Farley Inc. has perpetual preferred stock outstanding that sellsfor $34 a share and pays a dividend of $3.50 at the end of eachyear. What is the required rate of return? Round your answer to twodecimal places.
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