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A B C D E F G P10-17 Modified (see problem below) a. What is the value of a preferred stock where the dividend rate is 8.5 percent on a $50 par value, and the market's required yield on similar shares is 10 percent? b. Should you acquire the stock if the current market price is $40.00/share? c. If you purchase the stock for the value $40/share what is your expected rate of return? (Hint - use the "market's required yield" for preferred stock formula: Rate of return = Dividend on preferred stock/the value of a share of preferred stock) Preferred Stock Valuation and Expected Rate of Return Par value Current market price Dividend rate Dividend Required Rate of Return A) Value B C) Expected rate of return