possible Preferred stock valuation Jones Design wishes to estimate the value of its outstanding preferred stock. The preferred issue has a par value of $120 and pays an annual dividend of $4.20 per share. Similar-risk preferred stocks are currently eaming an annual rate of return of 10.9% a. What is the market value of the outstanding preferred stock? b. If an investor purchased the preferred stock at the value calculated in part a how much does she gain or lose per share if she sells the stock when the required return on similar-risk preferred stocks has risen to 12 8%? a. The market value of the outstanding preferred stock is sper share. (Round to the nearest cent) b. If the required return on similar-risk preferred stocks has risen to 12.8%, the value of the stock will be $per share. (Round to the nearest cent.) If an investor purchased the preferred stock at the value calculated in part a and sells the stock when the required return on similar-risk preferred stocks has risen to 12 8%the gain or loss is sper share. (Round to the nearest cent. Enter a positive number for a gain and a negative number for a loss.) het rer