Nine Point Industries recently issued $81 par value preferred stock that pays an 7% dividend rate per year. If the stock is currently selling for $81, what is the expected return of this preferred...

F2

Extracted text: Nine Point Industries recently issued $81 par value preferred stock that pays an 7% dividend rate per year. If the stock is currently selling for $81, what is the expected return of this preferred stock? SET YOUR CALCULATOR TO 4 DECIMAL PLACES. PLEASE INPUT THE ANSWER IN PERCENT ROUNDING IT TO 2 DECIMALS. DO NOT INCLUDE % SIGN, E.G., INSTEAD OF 9.9911% INPUT 9.99