Farley Inc. has perpetual preferred stock outstanding that sells for $34 a share and pays a dividend of $3.50 at the end
Posted: Wed Jul 06, 2022 6:44 pm
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.