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Connor Publishing's preferred stock pays a dividend of $1.00 per quarter, and it sells for $55.00 per share. What is its effective annual (not nominal) rate of return?a. 6.62%b. 6.82%c. 7.03%d. 7.25%e. 7.47%

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Answer:

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Explanation:

Please see the attachment  . The correct answer is e. 7.47% . Please see if you can follow the steps outlined on the attachment .

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