QUESTION 1 Kinder Chocolat Inc. has an outstanding issue of perpetual preferred stock with an annual dividend of $3.05 per share. If the required return on this preferred stock is 2.25%, at what price should the stock sell? QUESTION 2 Pfizer Industries has preferred stock outstanding with a par value of $100. The stock pays a perpetual quarterly dividend of $0.41 and has a current price of $51.40 What is its nominal annual rate of interest? QUESTION 3 Pfizer Industries has preferred stock outstanding with a par value of $100. The stock pays a perpetual quarterly dividend of $0.41 and has a current price of $51.40. What is its effective annual rate of interest?