Preferred Products has issued preferred stock with an annual dividend of $6.50 that will be paid in perpetuity.

a. If the discount rate is 10%, 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.)