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12345 [234]
3 years ago
13

Carter's preferred stock pays a dividend of $1.00 per quarter. If the price of the stock is $45.00, what is its nominal (not eff

ective) annual rate of return?
Business
1 answer:
Lera25 [3.4K]3 years ago
3 0

Answer:

8.89%

Explanation:

The answer is 8.89%

Here is how we arrived at this.

Dividend = 1$ times 4

= $4 annually

Then we calculate for the nominal rate of return.

This is equal to dividend / price.

= $4/ $45

= 0.0889

To convert this to percentage

0.089 x 100

= 8.89% is the nominal annual rate of return.

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