Preferred stock valuation Jones Design wishes to estimate the value of its outstanding preferred stock. The preferred i preferred stocks are currently earning an annual rate of return of 10.1%. 11.3%? a. What is the market value of the outstanding preferred stock? b. If an investor purchases 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 issue has a par value of $60 and pays an annual dividend of $5.10 per share. Similar-risk s risen to 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 11.3%, the value of the stock will be S per share Ro nato the nearest cont 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 1 1.3% the gain or the nearest cent. Enter a positive number for a gain and a negative number for a loss.) loss is S per share. Round to