North Pole Cruise Lines issued preferred stock many years ago. It carries a fixed dividend of 88 per share. With the passage of time, yields have changed from the original 9 percent to 7 percent yield is the same as required rate of return). a. What was the original issue price? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Original Issue price b. What is the current value of this preferred stock? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Current value ances c. If the yield on the Standard & Poor's Preferred Stock Index declines, how will the price of the preferred stock be affected? O The price of preferred stock will increa crease O The price of preferred stock will decrease