Carby Hardware has an outstanding issue of perpetual preferred stock with an annual dividend of $$4\mathrm{.}00$ per share. If the required return on this preferred stock is $6\mathrm{.}5\%,$ at what price should the preferred stock sell?

Select the correct answer.

a$.$ $$62\mathrm{.}23$

b$.$ $$61\mathrm{.}54$

c$.$ $$60\mathrm{.}16$

d$.$ $$62\mathrm{.}92$

e$.$ $$60\mathrm{.}85$