(1 point) (Exercise 6.38) A $1400 par value 9% preferred stock with quarterly dividends is bought to yield 7% convertible quarterly into perpetuity. However, the preferred stock is actually called at the end of 8 years at par. Find the nominal yield rate convertible quarterly that an investor would actually earn over the 8-year period. ANSWER = (1 point) (Exercise 6.38) A $1400 par value 9% preferred stock with quarterly dividends is bought to yield 7% convertible quarterly into perpetuity. However, the preferred stock is actually called at the end of 8 years at par. Find the nominal yield rate convertible quarterly that an investor would actually earn over the 8-year period. ANSWER =