Problem 10-25 Preferred stock value [LO10-4] X-Tech Company issued preferred stock many years ago. It carries a fixed dividend of $6 per share. With the passage of time, yields have changed from the original 8 percent to 16 percent (yield is the same as required rate of return). a. What was the original issue price? (Do not round intermediate colculations. Round your answer to 2 decimal places.) b. What is the current value of this preferred stock? (Do not round intermediate calculations. Round your answer to 2 decimal places.) c. If the yield on the Standard \& Poor's Preferred Stock Index declines, how will the price of the preferred stock be affected? The price of preferred stock will increase. The price of preferred stock will deciease