$7.$ X$-$Tech Company issued preferred stock many years ago. It carries a fixed dividend of $$12$ per share. With the passage of time, yields have soared from the original $10$ percent to $17$ percent $($yield is the same as required rate of return$).$

a$.$ What was the original issue price?

b$.$ What is the current value of this preferred stock?

c$.$ If the yield on the Standard & Poor$$s Preferred Stock Index declines, how will the price of the preferred stock be affected?