E$-$Eyes.com has a new issue of preferted stock it cals $20$V$20$ peeferred. The stock will pay a $$20$ dhidend per year but the first dividend will not be paid until $20$ years from loday. If you require a return of $11\mathrm{.}25$ percent an this stock, how much shourd you pay today?

Note: Do not round intermedinte calculations and round your answer to $2$ decimal places, e$\mathrm{.}9.,32\mathrm{.}16,$

What is the current stock price?