1. what is the annual dividend on a 6% preferred stock? please show detailed formula is preferred.

2. A competitor has 25 million shares outstanding at a stock price of $36 and an expected annual net income of $50 million dollars. What is the competitor's P/E ratio? if our company's expected annual net income is $ 100million and our shares outstanding total 20 million, then what is appropriate is the valuation for our stock.

3. why might a company's P/E ratio change over time?