(Preferred stock valuation) Haney, Inc.'s preferred stock is selling for $20.25 per share in the market and pays a $2.25 annual dividend. a. What is the expected rate of return on the stock? b. If an investor's required rate of return is 11 percent, what is the value of the stock for that investor? c. Should the investor acquire the stock? a. The expected rate of return on the stock is %. (Round to two decimal places.) . (Round to b. If an investor's required rate of return is 11 percent, the value of the stock for that investor is $ the nearest cent.) c. Because the expected rate of return is the investor's required rate of return or because the current market price is v $20.45, the Haney, Inc.'s preferred stock is and the investor should the stock. (Select from the drop-down menus.) (Preferred stock valuation) Haney, Inc.'s preferred stock is selling for $20.25 per share in the market and pays a $2.25 annual dividend. a. What is the expected rate of return on the stock? b. If an investor's required rate of return is 11 percent, what is the value of the stock for that investor? c. Should the investor acquire the stock? a. The expected rate of return on the stock is %. (Round to two decimal places.) . (Round to b. If an investor's required rate of return is 11 percent, the value of the stock for that investor is $ the nearest cent.) c. Because the expected rate of return is the investor's required rate of return or because the current market price is v $20.45, the Haney, Inc.'s preferred stock is and the investor should the stock. (Select from the drop-down menus.)