[Solution]FINANCE 3010 Lithium Lakes Industries preferred stock has a par value of $100 and pays

Lithium Lakes Industries preferred stock has a par value of $100 and pays a dividend of $6.00 per share. It presently sells for $87 per…

Lithium Lakes Industries preferred stock has a par value of $100 and pays a dividend of $6.00 per share. It presently sells for $87 per share. What do investors require as a rate of return on this stock? Round off to the nearest .10%.14.5%9.3%6.9%6.0%

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