2. An issue of preferred is expected to pay a dividend of $5.00 at the end of the year. Its class A common stock growth rate is equal to 8%. If the required rate of return is 7%, a. What is the preferred stock's current price? (20 points) b. If this preferred stock issue is convertible to common after holding the stock for two years, what will be the current preferred stock price now? (5 points)