A company's preferred shares pay a $1.90 dividend every three months in perpetuity. What is the fair market value of the shares just after payment of a dividend if the rate of return required by the market on shares of similar risk is 6.3% compounded quarterly? (Round your answer to 2 decimal places.

A company's preferred shares pay a $190 dividend every three months in perpetuity. What is the fair market value of the shares just after payment of a dividend if the rate of return required by the market on shares of similar risk is 6.3% compounded quarterly Round your answer to 2 decimal places) Fair market value