CUCUS ament: Chapter 8 Assignment Score: 0.00% Save Submit Assignment for Grading ms Problem 8-04 (Preferred Stock Rate of Return) Question 3 of 13 ) Check My Work eBook Preferred Stock Rate of Return Nick's Enchiladas Incorporated has preferred stock outstanding that pays a dividend of $4 at the end of each year. The preferred sells for $40 a share. What is the stock's required rate of return? (Assume the market is in equilibrium with the required return equal to the expected return.) Round the answer to two decimal places. Check My Work