Determine the value of a share of Max Pax $7.55 cumulative preferred stock to an Investor who requires a 7.85% rate of return.

A company's common stock dividends have been growing at an annual rate of 4.7% per year over the past 7 years. Current dividends are $2.60 per share. What is the current value of a share of this stock to an investor who requires a 11% rate of return if the mentioned conditions exist?