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

b$.$ If investors require a return of $6\%$ on this stock and the next dividend is payable one year from now, what is the price of TXS preferred stock? it is cumulative and if investors require a$($n$)6\%$ rate of return?

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

b$.$ The price of TXS preferred stock is $$.($Round to the nearest cent.$)$

c$.$ The price of TXS preferred stock is $$.($Round to the nearest cent.$)$