Back to Assignment Attempts Do No Harm/2 5. Problem 9.08 (Preferred Stock Valuation) eBook Earley Corporation issued perpetual preferred stock with an 11% annual dividend. The stock currently yields 6%, and its par value is $100. Round your answers to the nearest cent a. What is the stock's value? $ b. Suppose interest rates rise and pull the preferred stock's yield up to 13%. What is its new market value? S Grade it Now Save & Continue Continue without saving