Simon Brothers has perpetual preferred stock outstanding that sells for $50 a share and pays a dividend of 8 at the end of each year. What is the expected rate of return? (Answer as a percent with 2...

Simon Brothers has perpetual preferred stock outstanding that sells for $50 a share and pays a dividend of 8 at the end of each year. What is the expected rate of return?

(Answer as a percent with 2 decimal places. For example, 10 percent should be entered as 10.00. Donot use the % sign.)