A share of preferred stock has a par value of $10. It pays a 2% dividend. If the required return is 6%?, what is the price of the?stock?

Problem 8.L02.25 A share of preferred stock has a par value of $10. It pays a 2% dividend. If the required retum is 6%, what is the mice of the stock? The prefemad stock's price per share is S . {Round to the nearest cent)