Question: 7- Save Submit Algement for Geading cions Problem 5.09 (Preferred Stock Returns) Question 1 of 3 Check My Work cBook Arondale Aeronautics has perpetual preferred

7- Save Submit Algement for Geading cions Problem 5.09 (Preferred Stock Returns) Question 1 of 3 Check My Work cBook Arondale Aeronautics has perpetual preferred stock outstanding with a par value of $100. The stock pays a quarterly dividend of $1.00, and its current price is $85. a. What is its nominal annual rate of return? Do not round intermediate calculations. Round your answer to two decimal places % b. What is its effective annual rate of return? Do not found intermediate calculations. Round your answer to two decimal places %

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