Buxton Corp.has outstanding borrowings.One of these borrowings is nonconvertible preferred stock (cumulative)with a par value of $85 and an annual dividend rate of 6.20%.This preferred stock is currently selling for $56.50 per share.What is the yield or return (r)on this preferred stock?

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The Answer of Buxton Corp.has outstanding borrowings.One of these borrowings is nonconvertible preferred stock (cumulative)with a par value of $85 and an annual dividend rate of 6.20%.This preferred stock is currently selling for $56.50 per share.What is the yield or return (r)on this preferred stock?