Assume a share of preferred stock pays an annual dividend of $12; the first dividend is in exactly 12 months. The preferred has a conversion ratio of 20 and the underlying stock price is $7. What is the preferred's price if the yield is 7%? (10 pts) 10M4035386 Yes Corporate Bond 3.375031012023 A3 AAA+ 3278 INTERNATIONAL BUSINESS MACHS CORP MOT Corporate Bond 8.375 1109/2010 A33 AM INTERNATIONAL BUSINESS MACHS CORP Use Par Value =1000, if not provided. Round your answer to two decimal places as showw below: your answer is reported as %: 12.55% your answer is reported as a value: $100.51 Failure to comply with this will result in a point for more) reduction