Assume that the preferred stock currently is selling at $$190$ per share. Does this provide a higher or lower dividend yield than a $6$ percent, $$50$ par value preferred with a market price of $$52$ per share? Show computations. Explain why one preferred stock might yield less than another.

Stockholders$$ equity:

Convertible $$10$ preferred stock, no par value, $1,000,000$ shares authorized, $250,000$ shares issued and outstanding, $$200$ per share liquidation preference $$50,000$

Common stock, $$3$ par value, $40,000,000$ shares authorized $9,600$

Additional paid$-$in capital $76,800$

Retained earnings $50,600$

Total stockholders$$ equity $$187,000$