(Preferred stock valuation) What is the value of a preferred stock when the dividend rate is 16 percent on a $125 par value? The appropriate discount rate for a stock of this risk level is 13 percent. The value of the preferred stock is $ . (Round to the nearest cent.) (Preferred stock valuation) The preferred stock of Gandt Corporation pays a $3.75 dividend. What is the value of the stock if your required return is 14 percent? The value of the preferred stock is $ per share. (Round to the nearest cent.)