Beyonc Corp. has preferred stock outstanding that is expected to pay an annual dividend of $3 every year in perpetuity. What is the current stock price if the required return is 3.50 percent? \begin{tabular}{|r|} \hline$95.64 \\ \hline$89.21 \\ \hline$83.14 \\ \hline$85.71 \\ \hline \end{tabular}