X-Tech Company issued preferred stock many years ago. It carries a fixed dividend of $10 per share. With the passage of time, yields have changed from the orliginal 6 percent to 11 percent (yleld is the same as required rate of return). a. What was the original Issue price? (Do not round Intermedlate calculations. Round your answer to 2 declmal places.) Original issue price b. What is the current value of this preferred stock? (Do not round Intermedlate calculatlons. Round your answer to 2 declmal places.) 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 The price of preferred stock will decrease