J 8 What will be the nominal rate of return on a perpetual preferred stock with a $100 par value, a stated dividend of 10% of par, and a current market price of (a) $70, (b) $81, (c) $102, and (d) $141? Round your answers to two decimal places.

EBK CFIN
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ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter7: Stocks (equity) - Characterstics And Valuation
Section: Chapter Questions
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J 8 What will be the nominal rate of return on a perpetual preferred stock with a $100 par value, a stated dividend of 10% of par, and a current market price of (a) $70, (b) $81, (c) $102, and (d) $141? Round your answers to two decimal places.
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