P75 ****Need semi-annual dividend answers and how to****Preferred stock valuationTXS Manufacturing has an outstanding preferred stock issue with a par value of $65 per share. The preferred shares pay dividends annually at a rate of 10%. ****Need semi-annual dividend answers and how to****

a. What is the annual dividend on TXS preferred stock?****Need semi-annual dividend answers and how to****

b. If investors require a return of 8% on this stock and the next dividend is payable 1 year from now, what is the price of TXS preferred stock?****Need semi-annual dividend answers and how to****