X-Tech Company issued preferre stock many years ago. It carries a fixed dividend of $1 per share. With the passage of time, yields have changed from the original 7 percent to 12 percent (yleld is the same as required rate of return). a. What wes the original issue price? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Original issue price b. What is the current value of this preferred stock? (Do not round intermediate calculations. Round your answer to 2 decimal ploces.) Current value c. If the yield on the Standard & Poor's Preferred Stock Index declines, how will the price of the preferred stock be affected? O The price of preferred stock will increase. O The price of preferred stock will decrease.