Question
Everest Inc's preferred stock pays a dividend of $1.55 per quarter, and it sells the preferred stock $32.90 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.
A. 20.22%
B. 25.27%
C. 24.47%
D. 18.84%
E. 23.05%

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