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 soared from the original 6 percent to 11 percent (yield is the same as required rate of return).

a. What was the original issue price? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

b. What is the current value of this preferred stock? (Do not round intermediate calculations. Round your answer to 2 decimal places.)