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X-Tech issued preferred shares many years ago. They carry a fixed dividend of $9 per share. With the passage of time, yields have soared from

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X-Tech issued preferred shares many years ago. They carry a fixed dividend of $9 per share. With the passage of time, yields have soared from the original 7 percent to 15 percent (yleld is the same as required rate of return). a. What was the original issue price? (Round the final answer to 2 decimal places.) Original price of preferred share b. What is the current value of a X-Tech preferred share? (Round the final answer to 2 decimal places.) Current price of preferred share $ c. If the yield on the Preferred Stock Index declines, how will the price of these preferred shares be affected? The price of preferred stock will increase. O The price of preferred stock will decrease

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