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(Common stock valuation) Dubai Metro's stock price was at $95 per share when it announced that it will cut its dividend for next year from $10 per share to $6 per share, with additional funds used for expansion. Prior to the dividend cut, Dubai Metro expected its dividends to grow at a 4 percent rate, but with the expansion, dividends are now expected to grow at 7 percent. How do you think the announcement will affect Dubai Metro's stock price? a. What is the investor's required rate of return for Dubai Metro's stock? % (Round to two decimal places.) (Related to Checkpoint 10.3) (Preferred stock valuation) Calculate the value of a preferred stock that pays a dividend of $4.50 per share when the market's required yield on similar shares is 12 percent. per The value of the preferred stock is $ share. (Round to the nearest cent.)