Question: Problem 8-8 Valuing Preferred Stock (LO1) Big Pond Inc. has an issue of preferred stock outstanding that pays a $4.75 dividend every year in perpetuity.

Problem 8-8 Valuing Preferred Stock (LO1) Big Pond Inc. has an

Problem 8-8 Valuing Preferred Stock (LO1) Big Pond Inc. has an issue of preferred stock outstanding that pays a $4.75 dividend every year in perpetuity. If this issue currently sells for $93 per share, what is the required return? (Round the final answer to 2 decimal places.) % Required return

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