Please tell me the process clearly and the answers. Many thanks

7. (10 points) You hold a preferred stock that promises $10 dividend each year for the next 5 years. After that, it will pay a constant annual dividend of $5 forever. The interest rate is 10%. (a) (7 points) What should be the price of this stock today (assume that the most recent dividend was paid yesterday). 2 (b) (3 points) How would your answer change if you buy the stock right before it pays its next dividend