Earley Corporation issued perpetual preferred stock with a 10% annual dividend. The stock currently yields 6%, and its par value is $100. Round your answers to the nearest cent. A. What is the stock's...

Earley Corporation issued perpetual preferred stock with a 10% annual dividend. The stock currently yields 6%, and its par value is $100. Round your answers to the nearest cent.

A. What is the stock's value?
$  ?

B. Suppose interest rates rise and pull the preferred stock's yield up to 13%. What is its new market value?
$  ?

Please, please do provide answers for both A and B.