Question 25 3 points Save Ans TXS has an outstanding issue of preferred stock with a par value of $50 per share which pays an annual dividend of 10 %. TXS has not paid dividends on the preferred stock in the last two years, but investors believe that it will start paying dividends to preferred and common stock next year. What is the value of TXS preferred if it is cumulative (that is, 'passed" or missed dividends must be paid when payments begin again) and if investors require an 8% rate of return? $71.76 a. $68.25 b. $75.82 d. $62.50 $59.99 e