Suppose Edinburgh Exports pays an annual dividend rate of 9.00% on its preferred stock that currently returns 12.06% and has a par value of $100.00 per share. What is the value of Edinburgh's preferred stock? $89,56 per share $100.00 per share $111.94 per share $74.63 per share. Suppose that due to high infiation, interest rates rise and pull the preferred stock's yield to 15.68%. The value of the preferred stock will