$($Preferred stockholder expected return$)$ You own $150$ shares of Dalton Resources preferred stock, which currently sells for $$47\mathrm{.}05$ per share and pays annual dividends of $$3\mathrm{.}25$ per share.

a$.$ What is your expected return?

b$.$ If you require a return of $11$ percent, given the current price, should you sell or buy more stock?

a$.$ Your expected return is percent. $($Round to two decimal places.$)$

b$.$ If you require a return of $11$ percent, the value of the stock for you is $$,($Round to the nearest cent.$)$

Because the expected rate of return is your required rate of return or the intrinsic value, or because the current market price is $$29\mathrm{.}55,$ the Dalton Resources preferred stock is and you should the stock. $($Select from the drop$-$down menus.$)$