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(Preferred stock valuation) You are considering an investment in one of two preferred stocks, TCF Capital or TAYC Capital Trust. TCF Capital pays an annual

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(Preferred stock valuation) You are considering an investment in one of two preferred stocks, TCF Capital or TAYC Capital Trust. TCF Capital pays an annual dividend of $2.09, while TAYC Capital pays an annual dividend of $1.85. If your required return is 12 percent, what value would you assign to the stocks? The value of the TCF Capital preferred stock is $ per share. (Round to the nearest cent.) The value of the TAYC Capital preferred stock is $ per share. (Round to the nearest cent.)

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