Everest Inc's preferred stock pays a dividend of $1.55 per quarter, and it sells the preferred stock $32.90 per share. What is its effective annual (not nominal) rate of dividend for investors? Round...

Everest Inc's preferred stock pays a dividend of $1.55 per quarter, and it sells the preferred stock $32.90 per share. What is its effective annual (not nominal) rate of dividend for investors?


Round your answer to two decimal places. For example, if your answer is $345.6671 round as 345.67 and if your answer is .05718 or 5.7182% round as 5.72.