(Preferred stockholder expected return) You own 200 shares of Dalton Resources preferred stock, which currently sells for $47.67 per share and pays annual dividends of $4.25 per share. a. What is your expected return?

b. If you require a return of 8 percent, given the current price, should you sell or buy more stock?

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

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