Pioneer's preferred stock is selling for $30 in the market and pays a $4.50 annual dividend.

a. If the market's required yield is 14 percent, what is the value of the stock for that investor? b. Should the investor acquire the stock?

a. The value of the stock for that investor is $___ per share.(Round to the nearest cent.)

b. Should the investor acquire the stock?

The investor should/should not acquire the stock because it is currently overpriced/underpriced in the market.

thank you so much for your help!