(Preferred stock valuation) Haney, Inc.'s preferred stock is selling for $22.50 per share in the market and pays a $1.75 annual dividend. a. What is the expected rate of retum on the stock? b. If an investor's required rate of return is 8 percent, what is the value of the stock for that investor? c. Should the investor acquire the stock? a. The expected rate of retum on the stock is \%. (Round to two decimal places.)