Everest Inc's preferred stock pays a dividend of $1.25 per quarter, and it sells the preferred stock $24.15 per share. What is its effective annual (not nominal) rate of dividend for investors? Round your answer to two decimal places. For example, if your answer is $345.6671 round as 345.67 and if your answer is .05718 or 5.7182% round as 5.72. Group of answer choices 20.70% 19.46% 22.37% 22.14% 18.12%

Everest Inc's preferred stock pays a dividend of $1.25 per quarter, and it sells the preferred stock $24.15 per share. What is its effective annual (not nominal) rate of dividend for investors? Round your answer to two decimal places. For example, if your answer is $345.6671 round as 345.67 and if your answer is .05718 or 5.7182% round as 5.72. Group of answer choices 20.70% 19.46% 22.37% 22.14% 18.12%

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter8: Basic Stock Valuation

Section: Chapter Questions

Problem 14P

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