Determine effective annual rate of return


Question: Rebello's preferred stock pays a dividend of 1.00 dollar per quarter, and it sells for 55.00 dollar per share.  Determine its effective annual [not nominal] rate of return?

[A]       7.03%

[B]       7.25%

[C]       7.47%

[D]       6.62%

[E]       6.82%

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Finance Basics: Determine effective annual rate of return
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