Chih, Inc.'s preferred stock is currently sold at $20.75, and it pays an annual dividend of $2.75 per share. Answer the following questions: a. What is the expected rate of return on this preferred stock? %. (Round to two decimal places.) b. The value of this preferred stock will be $ if investors require a rate of return of 9 percent. (Round to the nearest cent.) c. Since this preferred stock's expected rate of return is it's required rate of return, i.e., the current market price is the value of the stock $30.56, Chih, Inc.'s preferred stock has been and the investor should the stock. (Select from the drop-down menus.)