Question: Problem 8 - 8 Valuing Preferred Stock [ LO 1 ] Fegley, Incorporated, has an issue of preferred stock outstanding that pays a $ 5

Problem 8-8 Valuing Preferred Stock [LO1]
Fegley, Incorporated, has an issue of preferred stock outstanding that pays a $5.35
dividend every year in perpetuity. If this issue currently sells for $93 per share, what is
the required retum? (Do not round intermediate calculations and enter your answer as
a percent rounded to 2 decimal places, e.g..3216.)
Required return
Problem 8-8 Valuing Preferred Stock [LO1] Fegley, Incorporated, has an issue

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