Puckett Corp.has just issued nonconvertible preferred stock (cumulative)with a par value of $50 and an annual dividend rate of 7.25%.The preferred stock is currently selling for $38.75 per share.What is the yield or return (r)on this preferred stock?

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The Answer of Puckett Corp.has just issued nonconvertible preferred stock (cumulative)with a par value of $50 and an annual dividend rate of 7.25%.The preferred stock is currently selling for $38.75 per share.What is the yield or return (r)on this preferred stock?