You bought a share of 3 percent preferred stock for 9706, Ask an Expert

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You bought a share of 3 percent preferred stock for $97.06 last year. The market price for your stock is now $99.06. Assume a par value of $100.

What is your total return for last year? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Total return __________%

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