a$.$ What is the annual dividend on TXS preferred stock?

b$.$ If investors require a return of $5\%$ on this stock and the next dividend is payable one year from now, what is the price of TXS preferred stock? cumulative and if investors require a$($n$)5\%$ rate of return?

a$.$ The annual dividend on TXS preferred stock is $$.($Round to the nearest cent.$)$