Question: Looking for both method and answer. Thank you so much!! Pioneer's preferred stock is selling for $39 in the market and pays a $4.70 annual

Looking for both method and answer. Thank you so much!!

Pioneer's preferred stock is selling for $39 in the market and pays a $4.70 annual dividend If the market's requned yield is 11 percent what is the value of the stock for that investor ? Should the investor acquire the stock The value of the stock for that investor is $ per share. (Round to the nearest cent.) Should the investor acquire the stock (Select from the drop-down menus ) The investor acquire the stock because it is currently in the market

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