Current Attempt in Progress Your answer is incorrect. The First Bank of Flagstaff has issued perpetual preferred stock with a $100 par value. The bank pays a quarterly dividend of $1.85 on this stock. What is the current price of this preferred stock given a required rate of return of 16.0 percent? (Round answer to 2 decimal places, eg. 15.25.) Current price $ e Textbook and Media Save for Later Attempts: 1 of 3 used Submit