c. Because the expected rate of return is (choose one: greater than, less than) the investor's required rate of return or because the current market price is (greater than, less than) $23.21, the Haney Inc's preferred stock is (overvalued, undervalued) and the investor should (buy,sell) the stock

(Preferred stock valuation) Haney, Inc.'s preferred stock is selling for $23.25 per share in the market and pays a $3.25 annual dividend. a. What is the expected rate of return on the stock? b. If an investors required rate of return is 14 percent, what is the value of the stock for that investor? c. Should the investor acquire the stock? The expected rate of return on the stock is %. (Round to two decimal places b. If an investor's required rate of return is 14 percent, the value of the stock for that investor is c. Because the expected rate of return is .) $(Round to the nearest cent.) Vthe investor's required rate of return or because the current market price is V $23.21, the Haney, Inc.'s preferred stock is V and the investor shouldVthe stock. (Select from the drop-down menus.)