Builtrite has issued preferred stock with a par of $$100$ and a dividend of $5\mathrm{.}5$ percent. If the required rate of return is $7\mathrm{.}75$ percent, what is the stock's current market price?

$$62\mathrm{.}14$

$$70\mathrm{.}97$

$$53\mathrm{.}27$

$$12\mathrm{.}90$