Sonia Revas owned 700 shares of PIE 6% convertible stock, $60 par value, for which she paid $52 a share. She received a dividend for 1 year. She then converted the preferred stock to 500 shares of common stock valued at $95.50 a share.

a. What was the cost to Sonia for her preferred stock?

$

b. How much did Sonia receive as a dividend for her preferred stock?

$

c. What was the value of her common stock at the time of conversion?

$

d. If the common stock paid an annual dividend of $6.00 a share, how much more dividend would she receive annually?

$

e. What was Sonia's percent of increase in annual return as a result of conversion to common stock? Round your answer to two decimal places.

%