Question: What is the required return? Smiling Elephant. Inc.. has an issue of preferred stock outstanding that pays a $5.80 dividend every year, in perpetuity. If

What is the required return?

What is the required return? Smiling Elephant. Inc.. has an issue of

Smiling Elephant. Inc.. has an issue of preferred stock outstanding that pays a $5.80 dividend every year, in perpetuity. If this issue currently sells for $80.50 per share, what is the required return? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Required return %

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