Preferred Products has issued preferred stock with an annual dividend of $8.88 that will be paid in perpetuity.

a.If the discount rate is 12%, at what price should the preferred sell?(Round your answer to 2 decimal places.)

b.At what price should the stock sell 1 year from now?(Round your answer to 2 decimal places.)

c.What are the (i) the dividend yield; (ii) the capital gains yield; (iii) the expected rate of return of the stock?(Enter your answers as a whole percent.)