Preterred stock valuation Jones Desion wishes to estimate the value of its cutstanding preferred stock: The preferred issue has a.par value of s80 and pays an annual dividand of $630 per share, Simiar-nsk praterred stocks are currently eaming an annual rate of return of 9.6%. a. What is the marker value of the outstanding preferred stock? b. If an investor purchases the prefered stock at the value calculated in part a, how much does she gain or lose per share if she sells the stock whien the required return on simblar-risk preforred stocks has risen to 11.0\%? a. The market vave of the outstanding preforred stock is ? per share. (Round to the neorest cent) b. It fhe required retum on simiar-tisk preferred stocks has risen to 11.0%, the value of the stock will be s ber share. (Round to the nearest cent.) If an irvestor purchased be preferied stock at the value calculated it pait a and sols the ctock whon tho requered retum on simiar-fisk preftered ttocks hes risen to 11.036. the gan or loss is per share. (Round to the nearest cent. Enter a positive number for a grin and a negative number for a loss)