X-Tech Company issued preferred stock many years ago. It carries a fixed dividend of $14 per share. With the passage of time, yields have soared from the original 12 percent to 16 percent (yield is the same as required rate of return). a. What was the original issue price? b. What is the current value of this preferred stock? c. If the yield on the Standard & Poor’s Preferred Stock Index declines, how will the price of the preferred stock be affected? will the price of preferred stock will increase or the price of preferred stock will decrease.