Because the expected rate of return is (less than, greater than) your required rate of return or the intrinsic value, or because the current market price is (less than, greater than) $41.67, the Dalton Resources preferred stock is (overvalued, undervalued) and you should (sell, buy) the stock.

(Preferred stockholder expected return) You own 150 shares of Dalton Resources preferred stock, which currently sells for $31.39 per share and pays annual dividends of $3.75 per share. a. What is your expected return? b. If you require a return of 9 percent, given the current price, should you sell or buy more stock? a. Your expected return is percent. (Round to two decimal places.) b. If you require a return of 9 percent, the value of the stock for you is S- (Round to the nearest cent.) Because the expected rate of return is the Dalton Resources preferred stock is Vyour required rate of return or the intrinsic value, or because the current market price is V $41.67, V and you shouldVthe stock. (Select from the drop-down menus.)