Proferred stock valuation TXS Manulacturing has mon outstanding preferred stock issue with a par valve of $63 per share. The preferred shares pay divitends annually at a rale of 9%. 2. What is the anruat didend on TXS prelerred tlock? b. Il investors require a return of 7% on this slock and the next didend is payable one year from now what is the price of TXS preforred slock? 5. Suppose that TXS has not paid dvidends en its prefersed shacos in bhe past two years, but investors believe that it will start paymg dividends again in one yeac. What is the value of TXS profered stocki it is cumdative and ti inveloes require a(n)7% rate of reture? * The arinual divident on Txs prelenred slockis 1 (Round to the neares cent)