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Resnor, Inc. has an issue of preferred stock outstanding that pays a $5.50 dividend every year in perpetuity. If this issue currently sells for $108 per share, what is the required return?

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Question:
Resnor, Inc. has an issue of preferred stock outstanding that pays a $5.50 dividend every year in
perpetuity. If this issue currently sells for $108 per share, what is the required...