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Required rate of return

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Fee Founders has perpetual preferred stock outstanding that sells for $60. a share and pays a dividend of $5 at the end of each year. What is the required rate of return?
Please tell me how I should enter this equation in my financial calculator.

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https://brainmass.com/economics/finance/preferred-stock-valuation-322119

Solution Summary

The solution explains how to calculate the required rate of return on a preferred stock

$2.19