There is a 6% yield preferred stock which is callable at 104 after 2 years. Its dividend is $4 per annum. If the firm does not buy the asset, it loses its right to call it back at the 5^th year. Derive the price of the preferred stock in the 2 cases where it is callable and in 5 years when it becomes non callable.

Please show your work and every step, I really don't understand how to do this problem. What is the yield to call and yield to maturity in the 2 cases? Why is dividends per annum valuable information? Is it easier to do in excel?