Chapter 7 Assignment Back to Assignment Attempts: 0 Average: 0/2 2. Valuing preferred stock Suppose Edinburgh Exports pays an annual dividend rate of 12.00% on its preferred stock that currently returns 16.08% and has a par value of $100.00 per share. What is the value of Edinburgh's preferred stock? $100.00 per share $74.63 per share $89.56 per share $111.94 per share Suppose that due to high inflation, interest rates rise and pull the preferred stock's yield to 20.90%. The value of the preferred stock will Grade It Now Save & Continue Continue without saving