(Preferred stockholder expected return) You own 200 shares of Budd Corporation preferred stock at a market price of $20 per share. Budd pays dividends of $2.75. What is your expected rate of return? If you have a required rate of return of 16 percent, should you sell your shares or buy more of the stock?

b. If you have a required rate of return of 16 percent, the value of the stock for you is $????