Mackery, Inc., has an outstanding issue of preferred stock that pays a $5.06 dividend every year. If this issue currently sells for $104.49 per share, what return to market investors require on it currently? (Do not include the percent sign (%). Round your answer to 2 decimal places (e.g., 32.16).)

Answer rating: 100% (QA)

To calculate the return that market investors require on the preferred stock we use the d... View the full answer