Exam 2 (Chapters 6 & 7) 8 8. Problem (2 parts) 12 points Saved Needing to raise more capital, you advised the board to issue more shares of preferred stock. The dividend is $4.60 every year, not increasing, In perpetuity. Your investors require a rate of return of 5.76%. a. What is the current price? (Do not round intermediate calculations and enter your answer as a dollar amount rounded to 2 decimal places, e.g., 12.34.) 00:58:19 a. Current price b. What formula did you use to solve this problem in part a? (Write the number of the formula from your formula sheet) b. Formula number