Preferred stock valuation TXS Manulacturing has an outstanding preferred stock issue with a par value of $63 per share. The preferted shares pay didends annually at a rate of 9%. a. What is the annial divend on TXS preferred siock? b. If irivesiort require a return of 4% on this stock and the next dividend is papable one year from now, what is the price of TXS preferred stock? c. Suppose that TXS has cet paid dividends on its predered shares in the past two yoars, but irvestors beleve that it wal start poying dividends again in one year, What is the value of TXS prefered stock it it is cumulative and it invesiors require a(n) 4% rate of retim? a. The annuas dividend on 1)CS prefered stock is 1 (Round to the nearest cent.)